The Law Firm is experienced in conducting the so called ‘Swiss franc loan cases’, in particular:
Importantly, Borrowers who entered into loan agreements indexed or denominated to the Swiss franc exchange rate between 2005 and 2011 (i.e. which were concluded by the date of implementing the so-called "anti-spread law") have a choice between two procedures, the more advantageous of which depends on the construction of the loan agreement and the evaluation of the Borrower's individual situation related to the loan repayment status
First, it is possible to apply for a so-called re-conversion of the bank loan granted in Swiss francs into loans in Polish zlotys, i.e. the removal of prohibited contractual clauses from it, while the agreement remains in force. If the case is won, the Bank will be obliged to return the difference between the amount paid and the amount due (the correct balance will be calculated by an expert witness in the course of the litigation), under the assumption that the agreement did not contain any prohibited provisions from the very beginning. In addition, in such a situation the Borrower will have the option to repay the loan as if it were a loan in PLN at an interest rate based on LIBOR. One of the most important advantages of this solution is the removal of the mechanism for translating the loan into Swiss franc, and therefore removal of the risk of exchange rate fluctuations which had a negative financial impact on the Borrower and caused uncertainty as to the amount of individual capital and interest instalments.
The second option is to lodge a suit to establish/ declare the loan agreement invalid and for reimbursement of the sums paid by the Borrower to the Bank in the form of principal and interest instalments, commissions and other additional charges collected by the Bank, after which the parties return to the pre-contractual status quo. This means that the Borrower is obliged to return the amount paid to them by the Bank at the time of concluding the agreement, while the Bank must return the amount which has been so far paid by the Borrower in repayment of the loan.
The choice of procedure depends on a prior analysis of the provisions of the credit agreement.
Our Law Firm offers you a free-of-charge analysis of the loan agreement denominated/ indexed to the CHF exchange rate, assistance in drawing up a correct and complete application to obtain relevant certificates from the Bank and a complete set of documents necessary to conduct the case, estimation of the amount of the asserted claims, assistance in deciding on appropriate strategy of proceedings, and representation of Clients before the Court.
We offer our Clients the highest level experience and knowledge, and above all, commitment to protecting their interests. We treat each case entrusted to us individually, with the utmost care. In cases related to the so-called ‘Swiss franc loans’, we also cooperate with lawyers of the highest competence and experience.
We kindly encourage you to use a cost-free ‘Swiss franc loan’ calculator which will provide you with estimated value of your claim in both options presented. For an individual consultation, please contact us by e-mail or telephone.
1 Maja 58 R, 82-300 Elbląg
535 05 03 00