The Italian Supreme Court rules on the scope of the jurisdiction clause favoring English courts (ISDA)

In January 2015, the Italian Supreme Court ("Supreme Court" or "Court") had the opportunity to have its say, for the second time, concerning the scope of the jurisdiction clause favoring English courts and contained in International Swaps and Derivatives Association ("ISDA") Master Agreements. The action was prompted by a pair of separate transactions involving two Italian municipalities and certain international banks and financial institutions. ISDA Master Agreements are standard agreements, published by the ISDA and used in over-the-counter derivatives transactions. The agreements establish terms applied to agreed derivatives transactions between two parties. By this mechanism, agreement is reached to abide by the standard stipulations and renegotiation of general terms is avoided

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Alessandro E. Corno, Locke R. McMurray, Lamberto Schiona, The Italian Supreme Court rules on the scope of the jurisdiction clause favoring English courts (ISDA), janvier 2015, e-Competitions January 2015, Art. N° 70984

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