In this episode, we discuss a multi-jurisdictional case that bridges the gap between civil law and common law and that is a landmark case for derivative contracts. The case involved the Municipality of Venice on one side, and on the other Banca Intesa Sanpaolo and Dexia Credit Local, represented by BonelliErede. The Court of Appeal of London ruled in the banks’ favour last December.

Partners Massimiliano Danusso (also leader of the Debt Capital Markets Focus Team) and Richard Samuel (also member of the International Arbitration Practice) discuss the decision in detail and exchange thoughts on the likely effects in the market.