United Kingdom swapscapacitysummary judgment

Deutsche Bank AG London v Comune di Busto Arsizio

[2021] EWHC 2706 (Comm)

JurisdictionUnited Kingdom

CourtHigh Court of Justice, Queen's Bench Division (Commercial Court)

Year2021

StatusPersuasive authority

Key Principle

Interest-rate swaps governed by English law that an Italian local authority entered into to neutralise an existing exposure are valid and binding because, being hedging rather than speculative transactions, they do not exceed the authority's capacity under Italian law.

Area of Law

General

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