The economic crisis of the pandemic has not stopped the struggle for the protection of the betrayed savings. We report a victory in court by the lawyer Angelo Castelli di Formia, the leading expert in the protection of savings in Italy, already winner in more than 400 cases (with over one hundred million euros recovered) relating to all the episodes of economic / judicial news of the last decades: Cirio, Parmalat, Argentina etc., in many cases with sentences that have made jurisprudence. This time it is a unit linked policy, a very popular financial investment because (among other things) the law guarantees its unencumbering and the exemption from inheritance taxes.
Specifically, explains Castelli, “it is a person who, before 2005, underwrote a unit linked policy with a large company that deals with investments in financial products, separate management, financial intermediation”. The court ruled that the customer suffered an impropriety and therefore recognized the right to compensation.
“My client – says the lawyer – is originally from Naples but the case was discussed before the VI section of the civil court of Milan, because the company has its registered office in Milan. The customer has signed a unit linked life policy for the benefit of the heirs or other beneficiaries; he was told that the investment would not involve risks and would yield a guaranteed minimum, and instead after a certain number of years my client verified that the invested capital had almost halved ”.
We know that every investment can be good or bad, so what is there to object to about this specific investment? Castelli in court pointed out that “the policy in question invested in an underlying subject to wide fluctuations, something of which however the client was not informed; it was only a formally insurance product, yet it was not made to sign the information required by Consob in these cases “. Castelli again: “Article 1337 of the civil code establishes good faith between the parties in negotiations and in the formation of the contract”.
Conclusion? “The sentence of the Court of Milan established a reimbursement of 80 thousand euros”.