Video: Cortesía Americano Media
The trial against Banco Nacional de Cuba (BNC) and the Cuban government for the demand of 72 million euros filed in 2018 by the British company CRF I Limited (CRF), began this Monday before the High Court of Justice of England and Wales based in London.
According to press reports, the representation of the Cuban State arrived in the morning (local time) at the building of the Royal Courts of Justice in London, where the trial is being held.
This is a very important trial that could carry heavy sanctions for the regime. However, last week the Cuban government said that the lawsuit filed by CRF will not affect the national economy.
He assured that the decision of the English court will not have any implications because “it is a procedural matter of jurisdiction” and that in no case will they discuss the financial amounts of the debt. He also specified that, for this reason, the country’s finances are not compromised nor those of the Cuban financial institution.
CRF I Limited is domiciled in the Cayman Islands. He filed the lawsuit against the Central Bank of Cuba on February 18, 2018.
The regime said that the plaintiff bribed BNC officials, specifically the Director of Operations, Raúl Olivera Lozano, to act against the interests of the institution and the Cuban government.
He added that this allowed CRF to act as a vulture fund and buy at a low price the debts that Cuba had accumulated since 1984 with financial entities such as Crédit Lyonnais and the Italian Banking Institute, to litigate them with the intention of collecting the full amount.
Lawyer Arnaldo M. Fernández commented that even if Cuba loses the trial and the subsequent appeal, CRF will face serious difficulties in collecting. In his opinion, excessive expectations should not be created regarding an immediate resolution of the dispute or settling of accounts with the Cuban party.
Protests in London and other cities on the second day of the trial for the multi-million dollar debt of the Cuban regime
The Cuban delegation that is attending the second session of the trial at the London High Court on Tuesday for the non-payment of a debt of 72 million euros to an investor group from the Cayman Islands, arrived at the scene amid the indignant shouts of dozens of activists there congregated.
The protest, in which members of different opposition organizations based in several European countries participate, carries the slogan “Never again. Trial of the Castro dictatorship”.
Videos shared by the protesters on social networks show the entrance to the English court of the lawyer Humberto López, spokesman for the Cuban regime, as well as Rodolfo Dávalos Fernández, president of the Cuban Society of Commercial Law and the Cuban Court of Commercial Arbitration International, accompanied by his daughter, Lourdes Dávalos, a lawyer based in Spain.