Abstract
When does an agreement to arbitrate a commercial dispute constitute a waiver of sovereign immunity? This question has assumed increasing importance over the past decades in direct proportion to the extent that sovereign states and their agencies, entities, and instrumentalities have agreed to arbitrate their disputes with investors and under commercial contracts. On August 19, 2013, the United States Court of Appeals for the Second Circuit considered this issue in the context of a petition to confirm an arbitral award, when it ruled that by becoming a party to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), Argentina had waived its sovereign immunity under the Foreign Sovereign Immunities Act (FSIA).
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