LatinNews Daily - 21 December 2021

* The UK’s supreme court has partially ruled in favour of Venezuela’s opposition leader Juan Guaidó in his legal battle with President Nicolás Maduro’s administration for control of over US$1bn of Venezuelan central bank (BCV) gold reserves held by the Bank of England (BoE). With the Maduro government and Guaidó’s parallel government both having named separate boards to the BCV, they have issued the BoE with conflicting instructions regarding the gold reserves. The UK’s supreme court ruled that the British government recognises Guaidó as Venezuela’s legitimate president and does not recognise Maduro’s presidency “for any purpose”. This ruling does not guarantee that Guaidó will gain control of the gold, however; the high court also determined that judgements by Venezuela’s supreme court (TSJ) declaring Guaidó’s self-proclamation as president to be illegitimate require legal consideration, and instructed the commercial court of England and Wales to reach a decision regarding this.

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