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WHO CONTROLS VENEZUELA'S GOLD? DE FACTO AND DE JURE RECOGNITION OF A FOREIGN HEAD OF STATE
Ist Teil von
Cambridge law journal, 2021-03, Vol.80 (1), p.11-14
Ort / Verlag
Cambridge, UK: Cambridge University Press
Erscheinungsjahr
2021
Link zum Volltext
Quelle
Worldwide Political Science Abstracts
Beschreibungen/Notizen
'"Maduro Board" of the Central Bank of Venezuela v "Guaido Board" of the Central Bank of Venezuela' [2020] EWCA Civ 1249 concerned which of two competing boards was entitled to give instructions to the Bank of England in respect of US $1.95 billion in gold reserves held on behalf of the Central Bank of Venezuela (BCV). The Maduro Board was appointed by Mr. Nicolas Maduro, who claims to be president of Venezuela on the basis of having won re-election in 2018. Mr. Juan Guaido claims that the election was flawed and the office of the presidency vacant; and that, in such circumstances, Article 233 of Venezuela's Constitution provides that he, as the President of the National Assembly, is the interim president until fresh elections can be held. The opposition-controlled National Assembly enacted the Transition Statute on 5 February 2019, which authorised Guaido to make appointments to an ad hoc board. However, the Supreme Tribunal of Justice of Venezuela (STJ), which is seen by some as supporting the Maduro Government, has held both the Transition Statute and the ad hoc Guaido Board "unconstitutional, a nullity and of no legal effect" (at [27], [29]).