Banco de la Nación v. Credito Varesino SpA

Abstract

State immunity — Jurisdictional immunity — Foreign State-owned bank — Action on letters of credit — Whether bank entitled to Jurisdictional immunity — Acts performed jure imperii and jure gestionis — Requirement of sufficient connection with forum State for exercise of jurisdiction

Economics, trade and finance — International banking transactions — Legal nature — Letters of credit — Deposit — Whether corresponding to concept of deposit under Italian Civil Code — The law of Italy