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Litigation over Venezuelan gold resumes in London court
By Kirstin Ridley and Marc Jones
Reuters
Wednesday, July 13, 2022
LONDON -- A long-running legal battle between Venezuelan President Nicolas Maduro and opposition leader Juan Guaido over who should hold the key to more than $1.5 billion of gold stored at the Bank of England resumed today at the London High Court.
The UK Supreme Court ruled last year that Guaido should be recognised as the Latin American country's head of state, taking a lead from the British government's position, and that he had the authority to determine the future of the 31 tonnes of bullion
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The High Court will now grapple with the novel question, over a four-day trial, about how to treat rulings by the Venezuelan Supreme Tribunal of Justice that say Guaido's appointments to an "ad hoc" central bank board are invalid.
"At stake is the question of whether the English courts can sit in judgment on the validity of decisions made by another sovereign nation's highest court," said Sarosh Zaiwalla, a partner at law firm Zaiwalla & Co., who is representing the Maduro-led Banco Central de Venezuela. ...
... For the remainder of the report:
https://www.reuters.com/world/americas/venezuelan-gold-legal-battle-resumes-london-2022-07-13/
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