TARGET wins in a clawback action against a pool of banks before the Italian Supreme Court as well

Deals | Achievements

TARGET, with a team led by counsels Cesare Degli Occhi and Angela Succi, has successfully represented a company in extraordinary administration in a clawback action against a pool of lending banks.

More specifically, by means of the recent ruling no. 27454 of 2024, the Italian Supreme Court rejected the appeal filed by the leading bank of the pool to challenge the decision that had declared ineffective, pursuant to Article 67, second paragraph, of the Italian Bankruptcy Law, payments totaling approximately Euro 12 million made in favor of the banks. The Supreme Court has also declared the cross appeals filed by the other banks inadmissible.