202203.09
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Loan agreement with an interest rate linked to the Euribor rate and nullity of “upstream” anti-competitive agreement

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15/2/2022: Court of Verona: there is no functional link (in the sense indicated by Italian Supreme Court, Joint Sections, No. 41994/2021) between a loan agreement with an interest rate linked to the Euribor rate and the anti-competitive agreement affected by the decision of 4/12/2013 of the European Commission: the loan agreement, while referring to the Euribor rate, was not a means of promoting the effects of the anti-competitive "agreement" on the market, considering that the object of this agreement was not the market of variable rate mortgages concluded by banks in the exercise of the institutional activity of using money, but the different market for financial instruments and, in particular, the market for interest rate derivatives.


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