May 7, 2019 / 1:50 PM / 2 months ago

Italy appeals to supreme court in bid to hear Morgan Stanley derivatives case

ROME (Reuters) - Italy’s Audit Court has appealed to the country’s top court against a ruling that it cannot hear a case against Morgan Stanley in a derivatives case, a judicial source said on Tuesday.

On March 7 an appeals court confirmed a previous sentence in June 2018 stating that the Audit Court did not have jurisdiction to hear the case against Morgan Stanley and former senior Treasury officials.

Prosecutors had requested that Morgan Stanley pay some 2.7 billion euros ($3.02 billion) of damages to the Italian state.

Reporting by Domenico Lusi, writing by Francesca Piscioneri, editing by Gavin Jones

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