Greek Government Bonds Immunity Case

Abstract

State immunity — Jurisdictional immunity — Greek sovereign debt crisis — Distinction between acta jure imperii and acta jure gestionis — Greek debt restructuring law as acta jure imperii — Issuing of government bonds as acta jure gestionis — Plaintiffs’ claims based on performance of terms of issue of government bonds or compensation for their non-performance following debt restructuring — Whether State immunity applicable

Jurisdiction — gBrussels I Regulation — Lawsuits demanding performance of terms of issue of government bonds or compensation for their non-performance — Whether “civil matter” under the Brussels I Regulation — Whether Brussels I Regulation applicable — The law of Austria