Conflict of laws
‘Maduro Board’ of the Central Bank of Venezuela v ‘Guaidó Board’ of the Central Bank of Venezuela [2021] UKSC 57, [2021] All ER (D) 72 (Dec)
The Supreme Court allowed the appellant’s appeal in part and dismissed the counter-appeal in proceedings concerning the effect of the disputed presidency of Venezuela. The respondent board favoured the previous president (M), while the appellant board favoured the interim president (G). Both sides claimed to act on behalf of the Central Bank of Venezuela, with regard to gold reserves held in the UK. The court held that declarations would be made that the UK Government (HMG) had, since 4 February 2019, recognised G as the constitutional interim President of Venezuela until credible presidential elections could be held. HMG had, since 4 February 2019, not recognised M as President of Venezuela for any purpose. Further, the proceedings would be remitted to the Commercial Court for it to consider whether the judgments of the Venezuelan Supreme Tribunal of Justice should be recognised or given effect
