Sicily Settles More Swaps Battles After Deutsche Bank Loss

By Silvia Martelli (November 8, 2021, 6:01 PM GMT) -- The regional government of Sicily has admitted in a London court the validity of swap deals it entered with Deutsche Bank and two Italian banks, the latest in a series of settlements over agreements to restructure its debts.

Sicily has conceded that the swap transaction it entered into with Deutsche Bank in 2005 and 2006 did not violate Italy's financial rules, according to a High Court consent order dated Oct. 25, which has now been made public.

The Italian region also admitted the validity of swaps transactions entered with UniCredit SpA and with Banca Nazionale del Lavoro SpA in the mid-2000s...

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