The UK Supreme Court held that Argentina could not rely on state immunity under the State Immunity Act 1978 where its bond issuance constituted a commercial transaction.
Injunctive Relief and Interim Remedies
Privy Council clarified the principles governing Chabra-style freezing injunctions against non-cause-of-action defendants where assets are held by a third party.
Contempt of court for breach of a freezing order requires only knowledge of the order and a deliberate act, not an intention to breach it.
Privy Council restated American Cyanamid principles for interim injunctions, emphasising the court's task is to assess the balance of convenience and risk of injustice on the whole merits.
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