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Monday, November 29, 2021

Foreign currency loans – Swiss francs. Prosecutors are to help in the fight against banks

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In court proceedings in which, in the event of the contract being canceled, banks will demand fees for using the capital, prosecutors will support borrowers, informs Rzeczpospolita. Banks are increasingly suing customers who question the legality of Swiss franc mortgage contracts.

The data of the Polish Bank Association shows that at the end of July this year. were pending before Polish courts 62 393 cases concerning foreign currency loans, of which there was in the second instance 3958 make it happen.

Frankivskis versus banks – prosecutors’ support

“The National Public Prosecutor’s Office sent a letter to all regional public prosecutor’s offices, in which it encourages prosecutors to defend CHF borrowers and join court cases brought by banks,” according to the information provided by the National Public Prosecutor’s Office to Rzeczpospolita.

The newspaper notes that “subsequent banks not only send franchisees to return their capital if the contract is canceled by the court, but also demand a fee for the fact that the client could use it for several years”. He adds that “it happens that such claims are made even when the final judgment has not yet been issued.”

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“Lenders argue that if the contract is canceled, they should be charged a fee for providing the client with capital, because money costs money and the banks have incurred the related expenses. There is another purpose: to try to protect against the statute of limitations of the claim. the longest-standing borrowers who have brought lawsuits, “explains the daily.

Rzeczpospolita stresses that “annulment of contracts without recovering capital from clients (in principle, they would have obtained housing for free) would be more than twice as costly as annulment of contracts with return of capital”. “According to KNF estimates, the gross cost of the first scenario in the scale of the entire sector would reach even PLN 250 billion, compared to only PLN 110 billion in the second case. Canceling contracts and granting banks a fee for providing capital (according to WIBOR) would cost the sector PLN 76 billion “- writes the newspaper.

“Cases in this area are considered by the prosecutor’s office to be extremely important both from the legal and social point of view. Therefore, prosecutors, acting on the basis of the Code of Civil Procedure and the Act – Law on the Public Prosecutor’s Office, decide to join cases initiated by banks in order to question undue claims. claims – according to the letter of the National Prosecutor’s Office “- we learn from the journal.

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Settlements with franchisees

At the end of 2020, the chairman of the Polish Financial Supervision Authority, Jacek Jastrzębski, proposed to banks to present their clients with attractive terms of settlements, which would be a real alternative to court proceedings. According to the suggestion of the head of the Polish Financial Supervision Authority, clients would be able to settle accounts with banks as if their loans were from the very beginning PLN loans, with interest at the appropriate WIBOR rate increased by a margin.

The president of mBank, Cezary Stypułkowski, recently announced that the bank is preparing to conduct a pilot agreement on Swiss franc loans. The bank is working both on settlements in the formula proposed by the Polish Financial Supervision Authority and on its own – alternative solution.

Previously, it was possible to conclude settlements with customers who had loans in Swiss francs offered by PKO BP. In the second half of October, the bank announced that PKO BP clients submitted 10,000 contracts for mediation in Swiss franc loans. He added that mediation with franchise holders brought results in the form of settlements, and the first client signed the annex.

BNP Paribas Bank Polska has been conducting a pilot of settlements on foreign currency housing loans, but has not made the final decision on offering settlements. About the fact that Santander Bank Polska is leading tests of concluding settlements with Swiss franc borrowers the bank’s president, Michał Gajewski, also informed.

Bank Pekao announced that it was planning to make settlements, but was still working on the details of the conversion mechanism.

In turn, Bank Millennium concluded over 4,000 settlements with franchise holders. The bank did not launch a program of agreements with borrowers on the terms proposed by the Polish Financial Supervision Authority, instead trying to get along with them on its own terms – Rzeczpospolita wrote.

BNP Paribas previously indicated that it would make a decision on the settlement after the Supreme Court issued a resolution. The full body of the Civil Chamber of the Supreme Court at the beginning of September this year. however, it did not issue a resolution on foreign currency loansinstead, it was decided to ask three questions to the Court of Justice of the European Union on the procedure for appointing judges.

PAP / Adam Ziemienowicz

Main photo source: Shutterstock



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