Summary

Private international law - Foreign State immunity - Immunity from jurisdiction - Proceedings for recognition and enforcement of arbitral award - Where appellants assignees of investors who obtained arbitral award against respondent - Where appellants sought to have award recognised and enforced in Australia under Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) ("New York Convention") as implemented by Pt II of International Arbitration Act 1974 (Cth) - Whether respondent's ratification of New York Convention amounted to waiver of respondent's foreign State immunity from jurisdiction for recognition and enforcement of foreign arbitral award in courts of other State parties to New York Convention - Whether clear and unmistakeable intention that entry into New York Convention involves waiver of foreign State immunity - Whether text and context of New York Convention suggests State ratification intended to constitute waiver of foreign State immunity.