A housewife from Oristano wins the legal battle against Poste Italiane. The case concerns postal savings bonds of the Q/P series placed with savers after the 1986 decree which established the new "Q" series, with lower yields than the "P".

For these securities, Poste continued to use the old forms, omitting to change the indication printed on the back for the amount accruable from the 21st to the 30th year of life.

Thus the saver, who had subscribed the bonds in 1991 for a value of 250 thousand lire, was denied reimbursement when the bonds expired and turned to Adiconsum Sardegna. The association appealed to the Banking Arbitrator, winning.

Accepting the appeal, the Arbitrator ordered that Poste Italiane pay the interest. It also decided that the company should pay the Bank of Italy 200 euros as a contribution to the costs of the procedure and an additional 20 euros to the appellant as reimbursement of the sum paid to present the appeal.

The president of Adiconsum Sardegna Giorgio Vargiu speaks of a "very important" decision: "Not only because it recognizes savers the right to obtain the reimbursement provided for by the conditions attached to the bonds, but also because it contradicts a previous and controversial sentence of the Cassation which, expressing itself on the issue of the series of Q/P vouchers, he proved Poste Italiane right. Now all the small investors to whom Poste Italiane refuses to repay the securities correctly can make similar appeals and have their rights recognised".

(Unioneonline/L)