The decision of the Grosseto Court on the law on goods not showing signs of expiration.

 

I have a fruit postali senza indicazione della scadenza non si prescrivono

The Grosseto Tribunal states that the law does not apply to goods that do not show signs of expiration.

Navigating the world of investment, especially in bonds, can become a complex task if you're not fully aware of the nuances involved. In today's blog post, we're going to delve into a recent ruling made by the Grosseto Court in Italy that can significantly affect your investment strategies. The Grosseto Court has recently ruled that postal savings bonds without a specified expiry date are not barred or prohibited. This landmark decision brings a new factor into consideration while choosing your investment options and diversifying your portfolio. Let's untangle this complex financial jargon and understand what it truly means for investors and bondholders.

Grosseto Court: Postal savings bonds without indication of expiry are not barred

Thanks to the Court's decision, despite a negative ruling from the Financial Banking Arbitrator, two savers were able to recover 8 thousand euros of savings invested in savings bonds which Poste Italiane claimed were barred

“ Term postal savings bonds without indication of expiry are not barred by limitation ”: This is why the Grosseto court decided to protect two savers from Grosseto, who had invested thousands of euros in bonds but had been denied collection by the Italian Post Office.

Poste claimed that those vouchers were now time-barred, but, thanks to the intervention of the Court, the savers managed to recover 8 thousand euros. Confconsumatori reported the news.

Postal savings bonds, the case

According to what was reported by Confconsumatori, mother, and daughter had invested small savings in savings bonds back in 2007 and 2008. At the post office, the usual BFP with a 5-year expiry date was indicated, which would therefore expire in 2022 or 2023, ten years after the expiry date.

In 2019, however, the daughter, turning to the Post Office for collection, discovered that they were fixed-term vouchers with a maturity of 18 months. Consequently, for Poste, the vouchers were now time-barred. However, there was no expiry date on the vouchers, so the savers decided to contact Confconsumatori.

The decision of the Court of Grosseto

After the complaint with a negative outcome and a negative ruling from the ABF, the banking and financial arbitrator, in 2021 consumers, therefore, decided to appeal to the Court of Grosseto.

“Judge Claudia Frosini, with a decision-making order dated 2 September, rendered in the context of a summary trial based only on documents – explains Confconsumatori – recognized that Poste, since the voucher did not have any expiry date, should have given savers an explanatory leaflet, in which the fruiting and expiry of the title had to be indicated. Since the Post Office cannot prove, in written form, that it has delivered the mandatory documentation, it must still reimburse the vouchers, to have - in essence - deprived citizens of the information capable of identifying the exact expiry of their rights".

The important decision reads: " Nor can it be considered the saver's responsibility to take steps to verify the expiry of the voucher and, consequently, the statute of limitations, leading to an unacceptable reversal of the burden of proof, placing the Poste l' burden of proving the facts which constitute the basis of the right he wishes to assert ".