Venezuelan Opposition Hits Back In $1B BoE Gold Suit

Law360, London (June 24, 2020, 6:18 PM BST) -- The Venezuelan central bank board backed by the country's opposition leader argued Wednesday that assessing the legality of its actions is "off limits" to an English court weighing whether to release €930 million ($1 billion) worth of the country's gold from the Bank of England.

Andrew Fulton, counsel for the board appointed by Juan Guaidó, told Judge Nigel Teare that the English court cannot rule on challenges to his client's authority by "kleptocratic" President Nicolás Maduro.

Questions over the validity and constitutionality of the board's actions fall under the "foreign act of state doctrine," Fulton said, which prevents a domestic court...

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