Big day for business lawyers

Nomura Holdings filed a claim in London against Banca Monte Paschi di Siena on the day Italy's third-biggest bank lodged a suit against it in an Italian court in a dispute about derivatives.

By InvestSMART · 11 Mar 2013

By InvestSMART ·
11 Mar 2013

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Nomura Holdings filed a claim in London against Banca Monte Paschi di Siena on the day Italy's third-biggest bank lodged a suit against it in an Italian court in a dispute about derivatives. Nomura filed a claim on March 1, the day Monte Paschi filed separate suits in Florence seeking damages over two derivative contracts dubbed Alexandria and Santorini, arranged respectively by Nomura and Deutsche Bank.

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Frequently Asked Questions about this Article…

What legal action did Nomura Holdings take in the derivatives dispute with Banca Monte dei Paschi di Siena?

Nomura Holdings filed a claim in London on March 1 against Banca Monte dei Paschi di Siena in connection with a dispute about derivatives, according to the article.

When and where did Banca Monte dei Paschi di Siena file its suits related to the derivatives dispute?

The article says Monte Paschi lodged a suit in an Italian court and filed separate suits in Florence seeking damages the same day Nomura filed its London claim (March 1).

Which derivative contracts are at the centre of the dispute and what are their names?

The dispute involves two derivative contracts referred to in the article as 'Alexandria' and 'Santorini.'

Who arranged the Alexandria and Santorini derivative contracts?

According to the article, the Alexandria contract was arranged by Nomura and the Santorini contract was arranged by Deutsche Bank.

Is Deutsche Bank directly mentioned in the Monte Paschi legal actions?

The article notes Deutsche Bank arranged the Santorini derivative, and Monte Paschi filed separate suits seeking damages over the two contracts (Alexandria and Santorini), but it does not provide detailed wording about the specific defendants in each suit beyond those arrangements.

What is the main issue described in the article — is it a regulatory or a private legal dispute?

The article describes a private legal dispute between financial firms over derivative contracts; it reports court filings in London and Florence rather than regulatory action.

How should everyday investors follow these developments about the Nomura–Monte Paschi derivatives dispute?

The article reports the initial legal filings; everyday investors who follow Nomura, Monte Paschi or Deutsche Bank may want to monitor subsequent court updates and official company announcements for any material developments.

Does the article state any outcomes or financial impact from the court cases on the companies involved?

No — the article only reports the timing and location of the filings and identifies the two derivative contracts (Alexandria and Santorini); it does not provide outcomes or quantify any financial impact.