Favorable opinion of the CJEU Ombudsman’s on CHF mortgage agreements

In August 2021 The Warsaw-Śródmieście District Court asked the Court of Justice of the European Union (CJEU) whether the parties to the invalidated Swiss franc loan agreement, i.e. the bank and the borrower, are entitled to a refund of additional funds over and above those paid in the performance of this agreement (ref. C-520/21).

On February 16, 2023. Anthony Michael Collins, Advocate General of the CJEU, issued an opinion in the above case. According to his assessment, after declaring a mortgage agreement void due to unfair terms, consumers may pursue claims against banks that go beyond the reimbursement of monetary benefits, it is for the national court to determine whether they have such a right. At the same time, banks cannot pursue additional claims from consumers after annulment of the contract, as this is prohibited by EU law.

What needs to be emphasized is that the Ombudsman’s opinion on interest on void CHF mortgage agreements is not yet a verdict, which we expect in June 2023, however it can be expected that the verdict will share the position expressed in the opinion of CJEU Ombudsman’s Anthony Michael Collins.

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