West and Others v. Multibanco Comermex SA Thompson and Others v. Bancomer SNC Davies and Others v. Banco Nacional de Mexico SA

Abstract

Expropriation — Definition — Imposition of exchange controls — Effect upon certificates of deposit with banks — Whether losses incurred by holders of certificates occasioned by a taking of property — Nationalization of private banks — Compensation — Requirement of just compensation — Requirement that compensation be prompt and effective — Whether fact that foreign State seeking to control its economy relevant to measure of compensation

Relationship of international law and municipal law — Act of State and justiciability — Limits of United States act of State doctrine — Second Hickenlooper Amendment — Justiciability of claims regarding expropriation — Refusal of United States courts to question effectiveness of foreign banking regulations

State immunity — Jurisdictional immunity — Presumption that acts of foreign State and its instrumentalities are sovereign acts — Requirement that acts be peculiar to powers of a sovereign — United States Foreign Sovereign Immunities Act 1976 — Commercial activity exception — Regular course of commercial conduct in United States — The law of the United States