Spanish Supreme Court interest ruling

Earlier this year, the civil division of the Spanish Supreme Court handed down a significant ruling intended to harmonise the approach adopted by the Spanish judiciary towards the much-discussed interpretation of Rule 4a of Article 20 of the Spanish Law of Insurance Contracts, regarding the regulation of interest penalties on the late payment of claims, as Miguel Relaño, of Davies Arnold Cooper (DAC) Madrid, and Matthew Wescott, DAC London, report.