With the recent decision of 29 May 2023, the Joint Divisions once again ruled in favour of the Italian Court with regard to a dispute arising from derivative contracts signed by an Italian local authority. The Joint Divisions applied the consolidated case law according to which jurisdiction is determined exclusively on the basis of the principal claim, regardless of the content of the ancillary claims.
On numerous occasions concerning similar disputes, the Joint Divisions have repeatedly stated that (i) only disputes of a contractual nature are attracted by the rule of the prorogation of jurisdiction clause (i.e. Article 13 of the ISDA Master Agreement), while disputes of a pre-contractual and extra-contractual nature remain under Italian jurisdiction and that (ii) jurisdiction is determined on the basis of the main claim presented by the plaintiff contract (see Joint Sections 11 June 2021, no. 16491; 18 December 2020, no. 29107; 27 February 2012, no. 2926; 20 February 2007, no. 3841).
The order of the plaintiffs’ claims is therefore… Read more
