Waste Co. Can't Fight BNP Paribas Swaps Suit In Italy
Law360, London (May 7, 2019, 2:22 PM BST) -- An Italian garbage processor lost another chance to challenge BNP Paribas in Italy over how much interest it pays after a U.K. appeals court ruled Tuesday that the dispute belongs in London.
Trattamento Rifiuti Metropolitani must wage its fight with the French lender over the terms of a swaps agreement in London because the contract called for disputes over hedging arrangements to be settled by English law, the U.K. Court of Appeals said.
Although the bank and lender signed a separate contract agreeing that Italian courts would settle disputes related to financing, the substance of the interest rate fight is more...
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