Banca Intesa Sanpaolo SPA & anr (claimants/respondents) v Comune di Venezia (defendant/appellant)
Tuesday 24 – Friday 27 October 2023
Appeals against the decision of Mr Justice Foxton dated 14 October 2022 sitting in the Business and Property Court, Financial List. The Claimants (the Banks) seek declarations that certain interest rate swap (IRS) transactions (the Transactions) which they say they entered into with the Defendant (Venice) on the terms of the 1992 ISDA Master Agreement are valid and binding, and alternative relief in contract and tort if it is found they are not.
Venice seeks declarations that the Transactions are not valid and binding (and consequential relief in unjust enrichment), and alternatively relief in contract and tort if it is found that they are.
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