Home » Interest too high, bank sentenced to compensate the Vazzola company

Interest too high, bank sentenced to compensate the Vazzola company

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It will pay 177 thousand euros. The civil court agreed to a farm company that had accrued a debt to the institute

VAZZOLA. The interest rate that a primary Italian credit institution had applied to aVazzola farm it had never been agreed in writing and, moreover, compound interest had always been applied which, since 1999, has been prohibited by a sentence of the Court of Cassation.

For these reasons, the judge of the Treviso civil court, Deli Luca, with a sentence filed a few days ago, sentenced the bank to return to the Vazzolese company177,000 euros, in addition to almost 50,000 euros of interesti, and to the payment of the professional fees of his lawyer, the lawyer Lorenzo Zanella.

The story revolves around the Vazzolese farm which for decades, from 1985 to 2017, maintained a relationship such as customer with a current account at a large credit institution, trusting in the correct application of the interest rates provided by law. He always pays and in 2016 reduces his exposure with the credit institution to practically zero.

Meantime, the owners of the company, that they suspect that the interests applied are not those required by law, turn to the lawyers Chiara Boschetti and Lorenzo Zanella, who also avail themselves of the work of the technical analyst Luca Tonel in their legal activity.

The findings of the lawyers of the farm is that the interests applied were not those provided for by the law and thus start, in December 2017, a civil suit in court in Treviso, after an initial mediation attempt fails, as the bank does not participate. The lawsuit lasted just over three years and Judge Deli, a few days ago, came to the conclusion that the farm’s current account, between the second quarter of 1992 and the first of 2017, had “illegitimate competences” noted. .

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Hence the decision to condemn the bank to return 177,000 euros to the Vazzolese company, in addition to almost 50,000 interest and the refund of the professional fees of the lawyers. “In conclusion – reads the device – the farm has the right to a refund of the sum of 177 thousand euros, in addition to legal interest ».

Now the bank may appeal against the sentence of judge Deli but in the meantime he will have to pay because the sentence is provisionally enforceable. The case of the Vazzola farm turns the spotlight on one of the most frequent judicial cases in recent years. Litigation on current accounts, especially those open during the 1980s, when banking compound interest was still not allowed, remains at the center of civil matters since many companies, maintaining current accounts from those periods, could be entitled to recover even important amounts from credit institutions.

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