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© Reuters. Fund takes Cuba to trial in London for a debt of 72 million euros
Havana, Jan 13 (.).- The British venture capital fund CRF I has taken the Cuban State to court in the United Kingdom, from which it claims 72 million euros of supposedly unpaid commercial debts.
As reported this Friday in a statement by the Banco de Cuba (BCC), the process will be held shortly before the British High Court of Justice, and there Cuba and the Banco Nacional de Cuba (BNC), which served as the island’s central bank. until 1997, “they will defend their rights”.
“In the judicial procedure, it is decided whether CRF is a creditor of the BNC and of Cuba (in the amount of 72 million euros),” explains the BCC, who affirms that the fund “CRF is not a creditor of the BNC or of Cuba and never has been”.
In addition, the BCC described the firm as a “vulture fund” and stated that it is incorporated “as an offshore company in Grand Cayman”, a tax haven.
The Cuban monetary authority emphasized that both the entity and Cuba “have never ignored their debts and have always maintained their interest in negotiating with their legitimate creditors.”
The process was opened in the United Kingdom more than two years ago, after several unanswered offers from the CRF, and the formal trial is scheduled to begin shortly.
The CRF I fund, the largest holder of Cuban debt in the London Club, began by claiming about 100 million euros for loans to the island government from the European banks Crédit Lyonnais and L’Istituto Bancario Italiano in the 1980s.
/jpd
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