Maduro Board of the Central Bank of Venezuela (Respondent/Cross-Appellant) v Guaidó Board" of the Central Bank of Venezuela (Appellant/Cross-Respondent)
Case ID: 2020/0195
Case summary
Issue
Whether the UK Government has recognised Interim President Guaido as Head of State of Venezuela and, if so, whether any challenge to the validity of Mr Guaido’s appointments to the Board of the Central Bank of Venezuela is justiciable in an English court.
Facts
Mr Maduro was re-elected President of Venezuela in May 2018. Mr Guaido is the President of the National Assembly of Venezuela. Mr Guaido claims that the May 2018 election was flawed and that he is Interim President of Venezuela.
Both parties have appointed different Boards to the Central Bank of Venezuela. These Boards have issued conflicting instructions concerning nearly US$1 billon of Venezuela’s international reserves, held in the Bank of England’s vaults, and approximately US$120 million held by court-appointed receivers on behalf of the Central Bank of Venezuela, following a payment from Deutsche Bank under a swap contract.
The High Court ordered a trial to determine whether the Guaido Board or the Maduro Board had control over the disputed sums. The High Court found for the Guaido Board. The Maduro Board successfully appealed to the Court of Appeal. The Guaido Board now appeals to the Supreme Court.
Judgment appealed
Parties
Appellant(s)
"Guaidó Board" of the Central Bank of Venezuela
Respondent(s)
"Maduro Board" of the Central Bank of Venezuela
Appeal
Justices
Lord Reed, Lord Hodge, Lord Lloyd-Jones, Lord Hamblen, Lord Leggatt
Hearing start date
19 July 2021
Hearing finish date
22 July 2021
| Watch hearing | ||
|---|---|---|
| 19 Jul 2021 | Morning session | Afternoon session |
| 20 Jul 2021 | Morning session | Afternoon session |
| 21 Jul 2021 | Morning session | Afternoon session |
Judgment details
Judgment date
20 December 2021
Neutral citation
[2021] UKSC 57
| Watch Judgment summary | |
|---|---|
| 20 Dec 2021 | Judgment summary |