BNP Paribas Swaps Suit Belongs In Italy, Firm Argues In UK

Law360, London (April 9, 2019, 5:32 PM BST) -- BNP Paribas cannot sue an Italian waste management company over the terms of a swaps deal in the English courts because another financing contract between the pair expressly subjects the dispute to Italian law, the company’s lawyers told a London appellate court on Tuesday.

Trattamento Rifiuti Metropolitani pushed to overturn a High Court judgment from July, which ruled that the waste management company and the French bank had agreed under an International Swaps and Derivatives Association master agreement in 2010 that the English court would have jurisdiction to hear any legal dispute on the swaps underpinning the deal.

Charles Samek QC,...

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