Abstract

MCNAMARA, Tom  and  CARO FERNEYNES, Maria Carolina. REFLECTIONS ON THE SOVEREIGN IMMUNITY OF THE "NEW" ECOPETROL S.A. (AND AFFILIATES) IN UNITED STATES COURTS. Int. Law: Rev. Colomb. Derecho Int. [online]. 2012, n.21, pp.91-116. ISSN 1692-8156.

Ecopetrol S.A. (Ecopetrol) was created under the laws of Colombian as an "industrial and commercial company of the State" in the area of petroleum and charged with administering the hydrocarbons resources of the Nation. Originally, Ecopetrol was an organ of the State and had the ability to assert legal immunity (from jurisdiction and execution) by reason of sovereignty under the laws of the United States (for example, the Foreign Sovereign Immunities Act). But recently (since 2003 until the present moment) the Colombian Government restructured Ecopetrol in a significant manner. Now, Ecopetrol is a "company of mixed economy" with commercial character that can (with limitations) offer shares that can be sold in the public market and can be acquired by persons or companies. This Article considers the impact of the transformation of Ecopetrol in relation to the sovereign immunity (from jurisdiction and execution) of Ecopetrol (and affiliates) under the laws of the United States. In other words this article analyses if the "new" Ecopetrol should be considered as a "State" or an "agency or instrumentality of a State" that has the right to claim sovereign immunity as a defense in courts in the United States.

Keywords : Ecopetrol S.A.; sovereignty; immunity from jurisdiction; immunity from execution; Foreign Sovereign Immunities Act; International Law; Jurisdiction; Sovereignity; Immunities.

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