Banco Central de Venezuela v Bank of England
Acting for the Central Bank of Venezuela (BCV) in a dispute arising out of the political crisis following Venezuela’s disputed 2018 presidential election. The Bank of England holds around US$2.1 billion of gold reserves on behalf of the state of Venezuela appointed by President Maduro, but has questioned the authority of the current Board of the central bank. We are acting for the BCV in a claim against the Bank of England to gain access to those reserves to finance the purchase of humanitarian, food and medical supplies necessary to meet the Coronavirus pandemic. This is disputed by a board appointed by Juan Guaidó who claims the title of Interim President of Venezuela.
This issue has been considered by all levels of the UK Courts, including ultimately the Supreme Court where Zaiwalla & Co acted.