Crack Parmalat savings and betrayed canceled orders without the
name
The Court of Bologna, Civil Division II, in sentence no
33/08 published on January 8, returned to address the issue of saving
betrayed and ordered the Deutche
bank - the outcome of a mini-class action brought by five
savers - to repay the sums
invested in Parmalat bonds.
The decision of the Court of Bologna signals to those who find themselves in similar situations
that there are still a few months to promote
possible prosecution. The term of five years of civil
prescription
expires in December 2008 for those who purchased Parmalat securities between March and December 2003
.
In the case under consideration, the Deutsche Bank
five customers had asked to invest in bonds Parmalat
09 Eur for a total of 60,000 € negotiated on behalf of himself and
off-market, private equity and
the name generally given by Bank as "Parmalat bonds. After the crack
suffered by Parmalat in December 2003,
investors had tried unsuccessfully to get on a conciliatory
the repetition of their investments, and had been forced to initiate a civil action
in 2004. The Court, while recognizing
the legality of the transaction
adequacy and lack of stress,
with a particularly attentive to the protection of the weaker
, annulled the contract for the purchase of essential
bond in error about the identity of the
contract.
The Bank, having never delivered in full to customers
denomination of the bonds issued through the vehicle of
Parmalat Finance Corporation BV,
has created a situation of information asymmetry by giving the users in a
representation of reality, err essential
recognized an essential part of the contract.
For more information on the decision:
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