London, Milan, 8 December 2020 – Global law firm Hogan Lovells has secured a significant court victory for Volkswagen Bank before the Appeals Court in Italy, overriding a 163 million euro fine issued, under European competition law, by the Italian Competition Authority.

The proceedings, involving an alleged exchange of information between captive banks of the major car companies, originally led to the highest fine ever issued in Italy: 678 million euro. This fine has now been annulled.

Hogan Lovells advised Volskwagen Bank. The legal team was led by partner Sabrina Borocci with support from senior associates Luigi Nascimbene and Eugenia Gambarara in the firm’s competition and antitrust practice.