State immunity — Jurisdictional immunity — Waiver of immunity — Default judgment entered against foreign State — Whether lodging objection to default judgment constituting waiver of immunity by foreign State

Diplomatic relations — Diplomatic agents — Statement by diplomatic agents that State might pay arbitral award made against company — Company controlled by nationalized banks of State — Whether making of statements constituting a firm commitment by State to pay award — Principle of good faith

Arbitration — Enforcement of award — Award made against corporation controlled by nationalized banks of foreign State — Action against foreign State for enforcement of award in municipal courts — State immunity — Whether courts having power to enforce arbitral award by seizure of property belonging to foreign State

State responsibility — For debts — Arbitral award against corporation controlled by nationalized banks of foreign State — Enforcement proceedings against foreign State — Whether foreign State liable for acts of nationalized banks and corporation Economics, trade and finance — Nationalized banks — Banks owning controlling interest in corporation — Scope and nature of financial obligations to corporation — The law of the Netherlands