The court assists franchisees and cancels the franc loan agreement

It turns out that the court helps the francs and annuls the loan agreement in francs. If your case is similar – a great opportunity opens up to invalidate your franc cryptograph with the bank.

Therefore, we have a situation that the Court of Appeal in Warsaw annulled the loan agreement that was concluded years ago between the francwoman and the bank. This is the first such judgment in Poland, giving hope to many consumers with Swiss franc debt.


10 years of repayment and debt is increasing

debt payment

Court disputes have been going on for several years between banks offering loans in francs and clients who have made such commitments. The latter try to prove that they have not been informed about the risk associated with a loan in Swiss currency. In turn, lawyers representing the interests of banks insist that this financial services provided in foreign currency always involve high risk (both in francs, dollars and any other). Until now, it seemed that consumers in this clash are in a losing position. However, the latest judgment of the Court of Appeal in Warsaw, which was in favor of the client, gives hope for justice.

The winning case concerns a client who decided to take out a loan in francs in 2008. She spent the funds she received on the purchase of an apartment, an underground garage and their renovation. Under the contract, the amount of its liability was over USD 485,000 and was indexed in dollars.

The woman repaid her obligations according to the schedule. Exactly after 10 years of repayment, the bank informed her that she still had USD 500,000 to repay. That’s more than she originally borrowed. While the difference in costs was caused by the exchange rate, it was so large that the woman decided to fight for her rights in court.


How to argue to convince the Court of its case?

debt loan

According to the client, the bank knew about the existing risk of taking a loan in a foreign currency much earlier. And it really could have been because the National Bank of Poland, the Polish Bank Association or even the Polish Financial Supervision Authority in its time issued many warnings to banks about this matter.

The courts of the first and second instance agreed that the conclusion of a loan agreement in a foreign currency with a high probability of an unfavorable fluctuation of the exchange rate of that currency is inconsistent with the definition of a loan agreement and on this basis, the agreement was canceled.

Fluctuation is, according to the PWN dictionary, a random deviation of the value of some physical quantity from its average values. So exchange rate fluctuation is nothing more than a change in the exchange rate of the currency relative to its average value.


Was the loan finally canceled?

money loan

Thanks to her fight, the client is to return only the amount that she actually borrowed in 2008 (note 485 925.37 USD). Fees such as accrued interest, loan costs resulting from currency changes, or additional fees imposed by the bank have been annulled by court order.

Can the bank somehow delay the execution of the judgment? Unfortunately yes. He still has the opportunity to submit a cassation complaint to the Supreme Court. Whether the verdict of the Warsaw Court of Appeal will be upheld depends on its consideration.

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