Cuba wins lawsuit in London against vulture fund

In a hearing held at the High Court of England and Wales on Tuesday, April 4, Judge Sara Cockerill told the lawyers of the parties the ruling corresponding to the lawsuit filed by the CFR I Limited vulture fund against the Republic of Cuba and the Cuban National Bank (BNC).

The decision accepts the statement taken by the Cuban side during the trial and rejects the claim of CRF against the Cuban State.

The judicial decision confirms that the irregularities committed by BNC officials, which were first the subject of a criminal investigation and then a judicial sentence, were reasons why the Cuban Government refuses to consent to the assignment of the debt in favor of CRF.

The document states, as the Republic of Cuba had claimed, that the BNC has no legal capacity or authority to represent the country.

It confirms that CRF is a stranger to the financial instruments it claimed against Cuba and did not have the right to establish the claim in London.

Therefore, the Republic of Cuba is immune from the English jurisdiction and has no obligation to respond with its assets to this claim.

According to the ruling announced this Tuesday morning, CRF is not a creditor of the Cuban State, which means that the Republic of Cuba is not a party to the lawsuit.

The proceedings will continue only against the BNC, which will have the right to establish the claims allowed by English law.