Failure to indicate the Euribor divisor does not affect the validity of the loan agreement

Cassinelli Studio Legale successfully represented a leading financial company before the Court of Genoa.

Fully endorsing the arguments put forward by the defence, the Judge confirmed the validity of a loan agreement even in the absence of an amortisation schedule, provided that the method of determining and applying interest rates, as well as the number and exact amount of monthly instalments, are specified in the contract.

In another significant aspect, the Court, “finding the case law cited by the company persuasive”, held that there is no uncertainty regarding the default interest rate in the event of the Euribor divisor not being specified.

The defence was handled by Nicola Cassinelli together with Vittorio Bertorello.