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Italian Swap Cases Increase as Merrill Lynch, UBS Sue in London

By Implode-Explode Heavy Industries

``Italian municipalities, emboldened by Milan?s criminal trial of Deutsche Bank AG, Depfa Bank Plc, JPMorgan and UBS over allegedly fraudulent selling practices on swaps, are increasingly filing complaints at home to avoid losses on derivatives contracts. The banks are turning to U.K. courts, where they expect to get swifter and fairer judgments. ''

Full post as published by Mortgage Lender Implode-o-Meter on January 25, 2011 (boomark / email).