(Finance) – BPM desk announced that the sentence of the Court of Cassation That puts an end to the dispute initiated by the bank to obtain the cancellation of the assessment notices issued on 19 December 2011. The subject of the dispute was the deductibility of the costs incurred in the 2005 financial year by Banca Popolare Italiana in takeover attempt at Banca Antonveneta.
The Court recognized the validity of the grounds of the appeal presented by the bank, quashing the sentence of the Regional Tax Commission of Lombardy, and the original appeal lodged was accepteddefinitively canceling the assessment notices.
The ruling will allow Banco BPM to obtain the full refund of the amount paid on a provisional basis pending the final judgment between 2012 and 2015, for a total amount equal to 201.9 million euros (in addition to related interests).
The bank, fully convinced of its reasons and confident in the positive conclusion of the dispute, has recorded and maintained in the balance sheet this amount under the item “other assets”.