Manuela Grassi speaks about security loans in the Italian bank credit system

The new frontiers of bank guarantees is the title of today’s session within the series of lectures organized by the Association “Cesare Manfredi” in Turin, at Fondazione Croce.

Ms Manuela Grassi spoke about the so-called Patto Marciano, which allows banks and other entities authorised to grant credit facilities to obtain the transfer in their favour of the property granted as security of the loan, in case of default by the borrower.

This has been generally accepted by case law becase the creditor may keep the asset mortgaged only if, after the debtor defaults,  an estimation is entrusted to an independent third party and the excess amount, based thereon, is returned to the debtor.