United Kingdom interest rate swapscapacityisda master agreement

Banca Intesa v Venezia

[2022] EWHC 2586 (Comm)

JurisdictionUnited Kingdom

CourtHigh Court of Justice, King's Bench Division, Commercial Court (Foxton J)

Year2022

StatusPersuasive authority

Key Principle

At first instance, two English-law ISDA interest-rate swaps entered into by an Italian municipality were held void for the municipality's lack of capacity (the Italian-law prohibition on speculative swaps), with restitution due, but this decision was reversed on appeal.

Area of Law

General

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