28 May 2024
The Firm has once again obtained a favourable judgment in the so-called “Swiss Franc case”. In this instance, the Firm represented the defendants in a dispute with Bank Millennium, regarding a 2007 Swiss Franc-denominated mortgage agreement.
In light of repayment issues, Bank Millennium terminated the loan agreement and subsequently, having agreed thereto with the banks, the defendants were forced to sell the mortgaged property. Following the sale and despite the transfer of the full consideration therefor to Bank Millennium, the claimant alleged that the loan has not been repaid in its entirety and sued the Firm’s clients for the remaining loan amount in excess of PLN 100,000.
On 13 April 2022, the District Court in Krakow dismissed the claimant’s case and ruled that the claimant should bear all costs of the dispute. The District Court accepted the Firm’s arguments that the mortgage agreement contained certain prohibited provisions related to foreign exchange rates on drawing and on repayment of the borrowed amounts. Consequently, the District Court ruled in favour of the defendants that they are not obliged to make any further repayments under the mortgage agreement.
The Court of Appeals in Krakow upheld the District Court’s ruling on 28 May 2024, dismissed Bank Millenium’s appeal and ruled the appellant should bear all costs of the appeal.
File number I ACa 941/22
