Republic of Argentina v. Weltover
Citation
504 U.S. 607 (1992)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
Argentina’s issuance of bonds to reschedule private debt obligations constituted “commercial activity” under the FSIA; a foreign state engages in commercial activity when it acts as a private player in the market rather than using the powers peculiar to sovereigns.
Significance
Key case defining “commercial activity” under FSIA § 1603(d); the relevant inquiry is the nature of the act (commercial vs. governmental), not its purpose; contracts to borrow money are inherently commercial.