October Term 2002 · Docket 01-593
Does owning parent stock count as owning subsidiary stock?
the sides that brought the case claim a foreign sovereign owns a subsidiary. the opposing sides say only direct shares count.
Verified source milestones
- — An official oral-argument transcript was verified.
- — An official oral-argument transcript was verified.
The arguments, in order
This case may have been argued more than once. Each entry below uses that session's official transcript. Later arguments do not erase earlier ones.
Argument 1 ·
What happened at the argument
Mr. Paden argued the foreign sovereign owns the subsidiary.
Mr. Massey argued parent stock does not equal subsidiary stock.
Mr. Minear cited corporate law principles separating the entities.
Justices questioned the consistency of the ownership claim.
Read the official transcript for this argument · Official argument details
Sources used for this argument breakdown
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 4, lines 5-15 — Transcript, file page 4, lines 5-15
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
- Official Supreme Court Transcript — file page 58, lines 3-3 — Transcript, file page 58, lines 3-3
A citizen's guide to the whole case
What this case is about
The case tests the Foreign Sovereign Immunities Act. It asks if parent stock equals subsidiary stock.
Official sources for this section
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
How the case got here
The Supreme Court heard oral argument in this case on January 22, 2003.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 5-15 — Transcript, file page 4, lines 5-15
- Official Supreme Court Transcript — file page 58, lines 3-3 — Transcript, file page 58, lines 3-3
What each side wants
the sides that brought the case want the Court to treat parent stock as subsidiary ownership.
the opposing sides want the Court to treat parent and subsidiary shares as distinct.
Official sources for this section
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
What each side says
the sides that brought the case argue the foreign sovereign owns the subsidiary through its parent.
the opposing sides argue corporate law separates parent and subsidiary shareholders.
Official sources for this section
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
What the justices asked
Chief Justice Rehnquist asked if ownership capacity changed over time.
Justices questioned the relevance of recent corporate law decisions.
Official sources for this section
- Official Supreme Court Transcript — file page 58, lines 3-3 — Transcript, file page 58, lines 3-3
Why it matters
This defines sovereign immunity for foreign state-owned companies. It determines which entities gain legal protection in U.S. courts.
Official sources for this section
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
What happens next
This article currently covers the argument record. Use the official docket link for later case activity.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 5-15 — Transcript, file page 4, lines 5-15
- Official Supreme Court Transcript — file page 58, lines 3-3 — Transcript, file page 58, lines 3-3
Official Court provenance
Official docket and case history · Official Supreme Court oral-argument detail page
Title and summary sources
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
- Official Supreme Court Transcript — file page 25, lines 17-5 — Transcript, file page 25, lines 17-5
- Official Supreme Court Transcript — file page 4, lines 17-29 — Transcript, file page 4, lines 17-29
- Official Supreme Court Transcript — file page 43, lines 23-45 — Transcript, file page 43, lines 23-45
- Official Supreme Court Transcript — file page 51, lines 35-33 — Transcript, file page 51, lines 35-33
Revision history
- Revision 1 · Official Transcript ·
Correction: Rewritten to the concise citizen-facing editorial standard.
- Revision 2 · Official Transcript ·
Correction: Migrated to the dated official Court activity contract without model use.