Loans indexed to the Swiss franc (CHF).

Problems of loans indexed to the Swiss franc (CHF)

As the Law Office of Legal Advisor Piotr Pozniak LL.M., we support and provide legal advice to our clients on issues related to the so-called franking (CHF) loans. For a long time, franking credits were granted by most banks in Poland. Our legal advice in this area includes analysis of the loan documentation, presentation of the consequences associated with the existence of abusive clauses in the signed agreement and calculation of the possible overpayment of the franking credit. At a further stage, we represent clients before banks and in possible court proceedings.

We provide legal advice to our clients on both indexed and denominated franc loans.

The arguments we have presented in the lawsuits are consistent with both the position of the Financial Ombudsman and the President of the Office of Competition and Consumer Protection. You can find the Ombudsman's report here, while you can read an example of the relevant view of the President of the OCCP here.

It should be pointed out that more and more verdicts in "franking credits" cases are now falling in accordance with the will and expectations of the franking public. As the Rzeczpospolita daily reported in its issue of September 19, 2019, most lawsuits are now being lost by banks. Many of the verdicts in cases won by borrowers are also already final.

The jurisprudence of the Supreme Court in "franking cases" in 2014 - 2017 was inconsistent and very often deviated from the line of jurisprudence developed over the years by the Court of Justice of the European Union. For this reason, many of the Supreme Court's judgments were rightly criticized by lawyers and organizations that care about consumer rights.

It should be noted, however, that in a resolution issued on June 20, 2018 (ref. III CZP 29/17), the Supreme Court ruled that the legality of the provisions of a loan agreement is examined at the moment of its conclusion. This means that the manner in which the bank executes the loan agreement is not examined, and it is in the area of contract execution that banks have sought a way to avoid the consequences of unfair contract formation. In 2019, the Supreme Court also issued 2 very important rulings (judgment of April 4, 2019, ref. III CSK 159/17; judgment of May 9, 2019, ref. I CSK 242/18), in which it unequivocally sided with the borrowers. Also in August 2019, the Supreme Court's Office of Studies and Analyses published an extensive i.e. more than 500 pages, supporting the position in favor of protecting borrowers.