The decision of the Supreme Court on “swaps” of interest rates

SÉRVULO IN THE PRESS 06 Nov 2013 in Jornal de Negócios

In an opinion piece in the Portuguese business daily Jornal de Negócios, Miguel Brito Bastos, lawyer of SÉRVULO’s Financial & Governance department, analyses the recent decision of the Portuguese Supreme Court annulling an interest rate “swaps” contract in the face of changes to the circumstance under which the contract was celebrated. This decision sets a precedent for other “swaps” contracts to follow the same route, thereby implying the compensation of large sums of money, and it has been received with enthusiasm by public opinion. In Portuguese.