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Thursday, June 13, 2024

Franc loans. Are banks entitled to remuneration for the use of capital? There is an opinion of the CJEU spokesperson

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Do banks or franchise holders receive remuneration for the use of capital? There is an opinion of the Advocate General of the Court of Justice of the European Union. The request for a preliminary ruling was submitted by the District Court for Warszawa-Śródmieście in Warsaw.

The opinion of the Advocate General of the Court of Justice of the European Union, in case C-520/21, concerns the legitimacy of claims for other amounts due (remuneration, compensation, reimbursement or indexation of benefits) for the use of capital. Therefore, the opinion concerns whether banks or franchise holders, if the court finds the Swiss franc loan invalid, will be entitled to, for example, remuneration for the use of capital. The request for a preliminary ruling in this case was submitted in August 2021 by the District Court for Warszawa-Śródmieście in Warsaw.

This is not yet an official judgment, but it will establish a line of jurisprudence CJEU.

In the opinion of the CJEU spokesperson, after a mortgage loan agreement is declared invalid due to unfair terms, consumers may pursue claims against banks that go beyond the reimbursement of benefits. – Article 6 para. 1 and art. 7 sec. 1 of Council Directive 93/13 must be interpreted as meaning that they do not preclude a judicial interpretation of national law according to which, where a credit agreement concluded between a consumer and a bank is held to be null and void from the outset because it contains unfair terms In the case of contractual obligations, the consumer – in addition to the refund of money paid under this contract and the payment of statutory interest for delays from the time of request for payment – may, as a result of such recognition, also demand additional benefits from the bank – we heard on Thursday at the CJEU.

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More information coming soon.

Main photo source: tvn24.pl



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