Polish Supreme Court: Franc Loan Exchange Rate Clauses Must Be Assessed as a Whole
Poland's Supreme Court Civil Chamber ruled on Wednesday that the exchange-rate clause in a Swiss franc loan agreement — composed of the NBP rate and the bank's margin — can only be assessed for unfairness as a single, indivisible unit, not as separate components. The ruling resolves existing inconsistencies in case law on franc loan disputes. It may have significant implications for the thousands of ongoing court cases between franc borrowers and banks.
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