Brief: Banca Sistema Says European Court Of Human Rights Published Judgement On Appeal Brought By Bank In 2023

Banca Sistema

16/01/2025 13:10

Jan 16 (Reuters) - Banca Sistema SpA  BSTA.MI :
    * OUTCOME OF APPEAL TO EUROPEAN COURT OF HUMAN RIGHTS
FOLLOWING 
FAILURE OF FINANCIALLY FAILING LOCAL AUTHORITY TO PAY BANK'S
CLAIM
    * JUDGMENT RENDERED IN CONTEXT OF COURT'S JURISPRUDENCE
    * ON BASIS OF NATIONAL LEGISLATION, ITALIAN STATE, ONCE
PAYMENT
HAS BEEN MADE IN FAVOUR OF BANK, MAY ACT IN RECOURSE AGAINST
ORIGINAL DEBTOR
    * SINCE TERRITORIAL ENTITY IS ONE OF SO-CALLED
‘MUNICIPALITIES IN
CONSERVATORSHIP’, ABOVE-MENTIONED EXPOSURE CLASSIFIED AS
NON-PERFORMING, WITH CONSEQUENT WEIGHTING OF 150%
    * VALUE ADJUSTMENT OF ABOUT EUR 8 MILLION EXISTS ON THIS
EXPOSURE

Further company coverage:  BSTA.MI 

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