14 C
London
Tuesday, May 21, 2024

Franc loans. Mec. Górski: the concept of remuneration for the use of loan capital means severe consequences for banks

Must read

- Advertisement -


The concept of remuneration for the use of the loan capital created by the banks turns against them and may now cause severe consequences for these institutions – commented on Thursday’s judgment of the Court of Justice of the European Union, the author of the lawsuit to the Court, attorney Radosław Górski.

The Court of Justice of the European Union ruled on Thursday in the case of franchise holders that EU law does not prevent consumers from demanding compensation from the bank in the event that a mortgage contract containing unfair terms is found invalid, in addition to the reimbursement of monthly installments paid.

Another wave of lawsuits possible

According to Attorney Górski, the judgment of the CJEU opens the door for all franchise holders who will now be able to demand annulment of loans linked to foreign currencies, without fear of the negative consequences of annulment of the loan agreement.

- Advertisement -

– Courts in Poland, including the Supreme Court, will be bound by this CJEU decision, which is favorable for consumers – indicated Górski, emphasizing that this is a very good judgment for consumers and at the same time very unfavorable for banks.

– It announces their loss in many lawsuits and deprives banks of the chance to obtain additional benefits. Therefore, the concept of remuneration for the use of the loan capital created by the banks turns against them and may now cause severe consequences for these institutions – he said.

In Górski’s opinion, the verdict deprives banks of the chance to obtain additional benefits due to the so-called remuneration for the use of the loan capital. As he assessed, new lawsuits by banks will probably cease to appear, and those that are already pending will end in failure of the banks.

Moreover, the judgment of the CJEU will probably result in another wave of lawsuits by borrowers seeking the annulment of their contracts, as franchise holders no longer have to fear the consequences of invalidating such a contract, the lawyer said. He noted that banks can now at most recover the loan capital, as long as such claims have not expired. However, as he pointed out, this will be decided by the courts examining specific cases. He added that “consumers, if only they manage to prove the existence and amount of their own claim, will be able to claim additional benefits for themselves.

Also affected by other contracts

The lawyer pointed out that the judgment of the CJEU, although directly related to the lawsuit regarding consumer claims against the bank after the CHF loan agreement was declared invalid, applies to all agreements that will be considered invalid. Not only loans linked to the Swiss franc, but loans with any other currency, including PLN loans. – What’s more, this judgment has a chance to become a judgment concerning all invalid contracts, not only those that are credit agreements, if it applies in a specific case, in a situation where there is an entrepreneur on the one hand and a consumer on the other – he pointed out.

He noted, however, that the CJEU judgment does not mean that loan agreements automatically become invalid and that there will be no need to file lawsuits. – Each franc borrower will have to assert his rights before a national court. You should also be aware that even a verdict of the Court that is favorable to consumers does not guarantee that the case will be won, the court always considers them individually, emphasized the lawyer.

Main photo source: Shutterstock



Source link

More articles

- Advertisement -

Latest article