By its decision No. 29810 of 12/12/2017, the Italian Supreme Court overruled the judgement of the Court of Appeal of Venice that had rejected the claim for nullity of a personal guarantee in violation of the antitrust regulation. The dispute submitted to the Court of Appeal of Venice - as a judge of first instance - concerned a personal guarantee of an individual to a bank. The guarantor claimed the nullity of the guarantee because it was the result of the agreement reached 'upstream' within the trade association of the Italian banks (hereinafter ABI) in violation of competition law. The “upstream” agreement reached within the ABI established the standard
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The Italian Supreme Court states the nullity of “downstream” agreements that are application of anticompetitive “upstream” agreements (ABI)
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