This Note reaches the contrary conclusion that the French nationalization of American subsidiaries fits within the territorial exception to the act of state doctrine.
Carolyn B. Levine,
The Territorial Exception to the Act of State Doctrine: Application to French Nationalization,
6 Fordham Int'l L.J. 121
Available at: http://ir.lawnet.fordham.edu/ilj/vol6/iss1/5