Deutsche Bank AG London Branch v Receivers Appointed By the Court & Ors

Deutsche Bank AG London Branch v Receivers Appointed By the Court & Ors

Her Majesty’s Government unequivocally recognises Mr. Guaidó as constitutional interim President of Venezuela (Head of State) since 4 February 2019, and not Mr. Maduro. This recognition is conclusive under the 'one voice' doctrine. The English court cannot adjudicate upon the validity or constitutionality under Venezuelan law of the Transition Statute, Decrees, appointments, or resolutions, as they are acts of state and non-justiciable under the act of state doctrine.

Parties
Claimant (2019 Claim): Deutsche Bank AG London Branch; Receivers (2019 Claim): Receivers appointed by the Court; Claimant (2020 Claim), Defendant (2019 Claim): Central Bank of Venezuela; Defendant (2020 Claim): The Governor and Company of the Bank of England; Party: The Ad Hoc Administrative Board of the Central Bank of Venezuela; Party: The Board of the Central Bank of Venezuela
Jurisdiction
England and Wales
Judgment Date
02 July 2020
Procedural Posture
Commercial Court Preliminary Issues / Judgment on Preliminary Issues
Outcome
Preliminary issues determined in favour of the Guaidó Board; court accepts HMG’s recognition of Mr. Guaidó as constitutional interim President and finds challenges to the Transition Statute and appointments non-justiciable.
Legal Topics
Recognition of Foreign States, Act of State Doctrine, Justiciability, Sovereign Immunity, Authority to Instruct Financial Institutions
Public International Law Commercial Law Recognition of Foreign States Act of State Doctrine Justiciability Sovereign Immunity Authority to Instruct Financial Institutions

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Parties

Deutsche Bank AG London Branch

Claimant (2019 Claim)

Receivers appointed by the Court

Receivers (2019 Claim)

Central Bank of Venezuela

Claimant (2020 Claim), Defendant (2019 Claim)

The Governor and Company of the Bank of England

Defendant (2020 Claim)

The Ad Hoc Administrative Board of the Central Bank of Venezuela

Party

The Board of the Central Bank of Venezuela

Party

Procedural Posture

Commercial Court Preliminary Issues / Judgment on Preliminary Issues

Legal Issues

  1. 1 Whether Her Majesty’s Government recognises Juan Guaidó or Nicolás Maduro as President of Venezuela and in what capacity
  2. 2 Whether the English court can consider the validity and/or constitutionality under Venezuelan law of the Transition Statute, Decrees, appointments, and resolutions

Ratio Decidendi

Her Majesty’s Government unequivocally recognises Mr. Guaidó as constitutional interim President of Venezuela (Head of State) since 4 February 2019, and not Mr. Maduro. This recognition is conclusive under the 'one voice' doctrine. The English court cannot adjudicate upon the validity or constitutionality under Venezuelan law of the Transition Statute, Decrees, appointments, or resolutions, as they are acts of state and non-justiciable under the act of state doctrine.

Court Disposition

Preliminary issues determined in favour of the Guaidó Board; court accepts HMG’s recognition of Mr. Guaidó as constitutional interim President and finds challenges to the Transition Statute and appointments non-justiciable.

Orders

  • Parties to agree the form of an order giving effect to the judgment on preliminary issues.