In December 2007 Italy joined the class action club by passing a law that introduced a new type of judicial remedy into the Italian legal system: azione collettiva risarcitoria (compensational collective action), commonly known as Italian-style class action. The Bank of Italy has called it “among the most relevant legislative novelties of the year” in its 2008 annual report.
The collective action remedy was due to become effective on 29 June, but recent statements by representatives of the newly-elected government suggest that the date will be postponed to 2009.
