Bank customers who have foreign currency loans should wait for the position of the Supreme Court, which is to be expressed on March 25 in a comprehensive resolution of the Civil Chamber, and then evaluate specific settlement proposals submitted by banks in these circumstances – says the Financial Ombudsman. In his opinion, this will allow them to assess the financial consequences more accurately and make an informed decision.
In recent weeks, a lot of information has appeared that is important for the holders of foreign currency loans. On the one hand, we have a number of reports of work on the terms of settlements that banks are to offer their customers. On the other hand, the First President of the Supreme Court presented to the full composition of the Civil Chamber six inquiries about key legal issues concerning such contracts. In this situation, the Financial Ombudsman has received questions about what actions should be taken in the current situation.
– Bank customers who have foreign currency loans should wait for the position of the Supreme Court, which is to be expressed on March 25 in a comprehensive resolution of the Civil Chamber, and then assess the specific settlement proposals submitted by the banks in these circumstances. This will allow for a more accurate estimation of the financial consequences and making an informed decision – says dr. hab. Mariusz Jerzy Golecki, professor at the University of Łódź, Financial Ombudsman.
He adds that he does not know the details of the settlements aimed at solving the problem of the foreign currency loans. It is not known whether this will be a solution adopted by the entire industry or only by some of the banks. It is also difficult to predict how they will potentially affect the legal position of the customers.
– Undoubtedly, it is worth analyzing any ideas for an amicable solution to these disputes. Therefore, I am pleased with the recently expressed NBP declaration as to the involvement of the central bank in solving this socially important issue – says Mariusz Golecki.
In the opinion of the Financial Ombudsman, in order to make a decision on a settlement, information is needed on the possible line of jurisprudence in courts. Therefore, the position of the Supreme Court on the application submitted on October 19, 2020 by the Financial Ombudsman (file number III CZP 6/21) regarding the resolution of discrepancies in the jurisprudence concerning the method of settlements between the parties after the cancellation of a loan agreement will be important.
– I expect it to be obtained in parallel with the announcement on March 25 by the full composition of the Civil Chamber of the Supreme Court of the answers to six legal issues formulated by the First President of the Supreme Court. One of these issues, defined in the fourth point, is the same as our application – says Mariusz Golecki.
He points out that on February 16, the Supreme Court, composed of three members, ruled that in the event of the cancellation of a foreign currency loan agreement, the so-called rule of two claims applies. This is in line with the arguments consistently presented by the Financial Ombudsman. Such an approach is a good omen for further resolutions of the Supreme Court on this issue. (more on this from the information available at the following link: the Supreme Court decides in accordance with the position of the Financial Ombudsman)
The decision by the full composition of the Civil Chamber on all the issues mentioned by the First President of the Supreme Court will be comprehensive. It will also concern the issue of the legitimacy of banks’ claims regarding remuneration for using capital.
– In my opinion, this matter is obvious. I find neither in Polish nor EU law any legal grounds to formulate such an expectation. I expressed this by filing a lawsuit against Raiffeisen Bank and joining the case of Santander Bank customers defending themselves in court against this type of claim. We are still waiting for these cases to be resolved and the judges will certainly refrain from ruling until the Supreme Court’s position on this issue is known – says Mariusz Golecki.
At the same time, he announces that the experts of the Financial Ombudsman will analyze the position of the Civil Chamber and its justification, and then present their conclusions as to the legal situation of Swiss franc loan holders.
