According to the text, in February 2020, CRF I Limited, “a vulture fund with legal domicile in the Cayman Islands, filed a lawsuit against our banking entity before the High Court of England and Wales.”

From the very beginning of the process, we have maintained that said fund has no relationship with the financial instruments of the institution and, therefore, has not been and is not a creditor of the National Bank of Cuba, the statement highlights.

On November 19, the Civil Division of the Court of Appeal in London dismissed the appeal filed by the BNC against the ruling of Judge Sarah Cockerill, notified on April 4, 2023, which established that the National Bank of Cuba would remain in the process.

So far, the note clarifies, it has only been discussed whether or not the English courts can hear the vulture fund’s claim; therefore, this decision of the Court of Appeal is limited to considering that the process continues before the Courts of that country.

The BNC “analyzes its defense position for the next steps to follow, which will be reported in due course; while ratifying, once again, its firm will for dialogue and unwavering respect for the debts that have been legitimately contracted,” the document concludes.

ef/lam/mjm