The Court of Appeal of England overturned the decision of the High Court of London, which recognized the presidency of Juan Guayido in a dispute on the return of the Bank of Venezuela gold held by the Bank of England. This was reported in the law firm Zaiwalla & Co, which represents Venezuela in court.
“In a ruling issued today, the Court of Appeal of England granted the appeal of the Central Bank of Venezuela and overturned the decision of Judge Tyre of July 2, 2020,” reads the statement.
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As noted by Zaiwalla & Co, the Court of Appeals concluded that the decision of the previous instance was wrong, “because the conditions for the recognition of Juan Guayido de jure as Venezuelan President by the British Government excluded the possibility that the British Government, however, also recognizes Mr. (Venezuelan President Nicolas), Maduro, as de facto president”.
The Court of Appeals also ordered a thorough investigation, including evidence of the existing diplomatic relations between Great Britain and Venezuela and other factors, to determine whether the British Government recognizes Maduro as the de facto head of state and head of government of Venezuela.
At the end of September, the Court of Appeal of England held a hearing on the lawsuit of the Bank of Venezuela, which appealed the decision of the High Court of London, which in July this year, in a dispute between the Bank of Venezuela and the Bank of England on the return of gold bars weighing about 31 tons stored in Britain, recognized the legitimacy of the presidency of the Venezuelan opposition leader Juan Guaydo.
In late January 2019, Bloomberg agency, citing sources, reported that the Bank of England refused to give Caracas 1.2 billion dollars in gold bars. One unnamed source told the agency that the decision not to issue gold was taken after senior U.S. officials, including U.S. Secretary of State Mike Pompeo and then U.S. presidential adviser on national security John Bolton, put pressure on colleagues in the UK to block Venezuelan President Nicolas Maduro access to his assets abroad.
The media reported that Guayido had asked Teresa May, then British Prime Minister, not to return the gold bullion to the government of Maduro.
In Venezuela, January 21, 2019, began mass protests against President Maduro shortly after he was sworn in. The head of the National Assembly, controlled by the opposition, Guayido illegally proclaimed himself interim head of state. Several Western countries, led by the United States, declared recognition of Guaido. In his turn, Maduro called the head of parliament a puppet of the United States. Russia, China, Turkey, and several other countries supported Maduro as a legitimate president. In Moscow, they called Guaido’s “presidential status” non-existent.