Abstract
Three recent decisions of the Swiss Federal Supreme Court provide welcome guidance on the enforcement of ICSID awards against State assets in Switzerland. In the first two decisions, the Swiss Federal Supreme Court reiterated the general principle that State assets entrusted to an International Organisation enjoy absolute immunity. The Court went on to find that while in the case at hand the Swiss Government could initiate arbitral proceedings against the International Organisation concerned if it considered a defence of immunity to constitute an abuse of law, the Court could not review a decision by the Swiss Government not to use its power to initiate such arbitral proceedings since this decision pertained to foreign affairs. In the third, most recent, decision, the Swiss Federal Supreme Court for the first time considered Swiss law on immunity in the context of the enforcement and execution of an ICSID award. It confirmed that ICSID awards are subject to general rules of immunity under Swiss law, and do not therefore enjoy more favourable treatment in this respect than domestic judgments against States.
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