Topical issues concerning usurious interest
This note concerns a number of controversial, topical issues regarding interest termed as ‘usurious’, referred to in Italian Law 108/1996 and in article 644 of the Italian Criminal Code, and in particular those pertaining to default interest, to the so-called ‘supervening usury’ and to the ‘floor’ interest rate.
On this matter, the judgment of the Civil Supreme Court, Division I, no. 350 of 9 January 2013, recently ruled that ‘in order to ascertain whether or not the interest rates provided in a mortgage contract are usurious, the conventionally established default interest must also be included in the calculation’.
This judgment confirmed an approach that has been previously asserted in case law (see, for example, Civil Supreme Court, Division I, no. 5286/2000 or Civil Supreme Court, Division II, no. 5324/2003)…
Click on the link below to read the rest of the NCTM briefing.
News from NCTM
News from The Lawyer
Briefings from NCTM
On 18 September 2014, the European Court of Justice handed down an interesting decision on the validity as a trademark of the shape of products.
A female macaque took a self-portrait using the camera of the English naturalist photographer David J Slater. The news raised doubts about the picture’s copyright protection.
Analysis from The Lawyer
Being sent to London on secondment is a prized opportunity for associates in European firms