Resumen de Sovereign Wealth Funds and State Immunity: Overcoming the Contradiction

Giovanna Adinolfi

• 1. Introduction. - 2. Absolute v. restrictive immunity of foreign States under international conventions and in the practice of States. - 3. Are rules on State immunity applicable to SWFs? - 3.1. Factors linking SWFs to their home States. - 3.2. Formal v. functional approaches for the purpose of defining foreign States under rules on sovereign immunity.

  - 3.3. Do SWFs come within the foreign State definition under rules on State immunity? - 4. Sources of the foreign State's consent to exercise of adjudicative jurisdiction. - 5. The commercial transactions exception. - 6. Irnmunity from measures of constraint. - 6.1. Measures of constraint over foreign States' property used for commercial purposes or activities. - 6.2. Immunity from enforcement on the property of Central banks. - 6.3. Immunity from enforcement of an SWF's assets. - 7. Conclusions.