Banque Populaire Méditerranée wins Supreme Court ruling on reimbursement of guarantee costs in VAT proceedings

Banque Populaire Méditerranée has obtained a favourable ruling from the Italian Supreme Court (Corte di Cassazione) against the Agenzia delle Entrate (Italian Revenue Agency), confirming the legitimacy of the right to reimbursement of guarantee costs (oneri fideiussori) incurred in connection with the advance payment of VAT refunds.

The Supreme Court dismissed the Agenzia delle Entrate's appeal as manifestly unfounded, and ordered the Agency to reimburse the legal costs of the proceedings.

Banque Populaire Méditerranée was assisted before the Supreme Court by Pirola Pennuto Zei & Associati, with a team led by Partner Tonio Di Iacovo and comprising Counsel Delia Berto and Antonio Fusco. In the lower court proceedings, the company had been assisted by Partner Lorenzo Banfi, Associate Partners Claudio Vicinanza and Giovanni Carofiglio.