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"The Republic of Cuba wins ruling in London: CRF is not a creditor of the Cuban State."
Cuban President Miguel Díaz-Canel welcomed on Tuesday the ruling of the High Court of England and Wales determining that the vulture fund CFR I Limited is not a creditor of Cuba.
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Cuba Wins Lawsuit Against Vulture Fund In London High Court
"The Republic of Cuba wins lawsuit in London: CFR is not a creditor of the Cuban state. Cuba also won in London. Once again, the enemies of the nation failed. Their lies collided against a professional and prestigious court," Díaz-Canel said through his official Twitter account.
His comments followed the ruling of the High Court of England and Wales corresponding to the lawsuit filed by the vulture fund CRF I Limited against the Republic of Cuba and the National Bank of Cuba (BNC).
Judge Sara Cockerill notified the lawyers of both parties of the ruling that accepts the approach sustained by the Cuban side during the process and dismisses CRF's claim against the Cuban State.
República de Cuba gana pleito en Londres: CRF no es acreedor del Estado cubano. #CubaGanó también en Londres. Otra vez fallaron los enemigos de la nación. Sus mentiras chocaron contra un tribunal profesional y prestigioso. https://t.co/PYcftRMkLw
— Miguel Díaz-Canel Bermúdez (@DiazCanelB) April 4, 2023
Republic of Cuba wins lawsuit in London: CRF is not a creditor of the Cuban State. Cuba also won in London. Again the enemies of the nation failed. His lies ran up against a professional and prestigious court.
In this way, it is established that CRF is alien to the financial instruments it claimed against Cuba and had no right to establish the claim in London.
The court ruling confirms that the irregularities committed by BNC officials, the subject first of a criminal investigation and then of a court judgment, were reasonable grounds for the Cuban Government to deny its consent to the assignment of the debt in favor of CRF.
Therefore, the Republic of Cuba is out of the lawsuit, during which Cuba had been arguing that the BNC has no legal capacity or authority to represent the country.
The vulture fund CRF tried to illegally acquire two Cuban debt securities at a low price, claiming to be a creditor of the BNC and the Republic of Cuba.
By conditioning possible agreements to avoid the lawsuit before the English jurisdiction, CRF intended to obtain a net profit that would range between 1 200 and 2 000 percent of the value they paid.
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