The legal and tax firm GPD, represented by attorneys Andrea Gemma, Elisabetta Mattozzi and Daniela Italiano, has obtained a favorable ruling before the Court of Catanzaro, securing the complete rejection of all claims brought against its client, a renowned securitization company, and a leading credit institution, concerning the legitimacy of banking relationships and credit assignment agreements.

The Court of Catanzaro, adopting the legal arguments presented by the aforementioned counsel and in line with the most recent developments in case law on matters of legitimacy regarding banking relationships (and, in particular, with reference to the verification of usurious interest rates, anatocism and French amortization schedules, burden of proof, and credit accessories pursuant to Article 58, paragraph 3, of the Banking Consolidation Act), rejected the claims for nullity of the contractual relationships and for negative determination of the credit, confirming the validity of the credit claimed by the assignee and the lack of merit in the damages claims advanced by the debtor.

The ruling is of particular significance insofar as the Court, accepting the exception raised by the defendants, held that the Implementation Agreement does not have a novative nature and does not replace the banking relationships renegotiated through it; consequently, it cannot be subjected to the verification of usury, which must instead apply solely to the original banking relationships.