Abstract: Foreign Sovereign Immunities Act (FSIA) of the United States provides that a foreign state and its property is immune from jurisdiction and execution. Immunity from attachment and execution of property of a foreign state means that the property of a foreign state shall be immune from attachment arrest and execution. In the execution proceedings, both a foreign state and its instrumentality (including the state-owned enterprise) are able to invoke the defense of immunity from execution. A state and its instrumentality have their own respective legal personality and property, accordingly, the courts have no competence to attach the property of the instrumentality of a foreign state (including the state-owned enterprise) to execute the judgment against the foreign state. Walters applied to attach the property of the Chinese government saved in New York Branch of Industrial and Commercial Bank of China, Bank of China, China Construction Bank so as to execute the default judgment against the Chinese government, which is in violation of the FSIA the judicial precedents of the Federal Courts, and thus it is rejected by the Court..

Keywords: State Property Property of the State-owned Enterprises Immunity from Execution Foreign Sovereign Immunities Act

Published in Wuhan University Journal (Philosophy & Social Sciences), Vol.4 , 2013.