It was a revolutionary ruling on WIBOR. Now there’s a twist
At the beginning of November, the District Court in Katowice issued a groundbreaking decision on a PLN loan. According to it, the bank did not have the right to add to the WIBOR interest rate. As a result, the installment of this loan could be reduced from nearly PLN 6.7 thousand to PLN to about 1.7 thous. zloty.
Although it was not a verdict, but only a protective order, it could still be the beginning of a real “tsunami” in the entire banking sector. Especially if in other cases the courts started issuing similar verdicts.
Now, however, we’re dealing with a big twist. It turns out that after a complaint filed by the bank in this case, the District Court, by decision of December 22, 2022, revoked the collateral from the beginning of November. This is reported by the Polish Bank Association.
“The court changed the challenged order in such a way that it dismissed the plaintiffs’ request to secure the claim. The above means that the order to secure the claim does not exist in legal transactions and has no effect,” the statement reads.
– In other words, it means that borrowers are obliged to repay the loan, taking into account WIBOR, as before – emphasized Tadeusz Białek, vice-president of the Polish Bank Association, in his commentary on this matter.
The great revolution for banks and cheap loans for customers will probably remain in the sphere of “science-fiction”. At least for now.
Loan without WIBOR? The history of the famous resolution
About the case we reported extensively in Business Insider Polska. Although it was not a verdict in the case, but a very important security decision, the consequences for the entire banking sector could be gigantic.
– This is probably the first such decision issued by a court in Poland – assessed then in Business Insider Polska, legal adviser Radosław Górski, whose law firm represents the zloty person. — PLN loan has been deprived of WIBOR, which in this case means a reduction of the installment by about 5 thousand. zloty he adds.
If the line of jurisprudence throughout the country went in this direction, the consequences for banks could be deplorable. According to estimates by Business Insider Polska, the sector could lose up to PLN 84 billion on this.
Some lawyers admitted at that time that the decision of the District Court in Katowice could be a breakthrough in the issue of PLN loans. At the same time, however, they warned bank customers against excessive optimism.
– If the court upholds the security, the borrower will pay installments without WIBOR for the duration of the case. However, out of caution, I would advise you to set aside the remaining part of the unpaid installment for the eventuality of an unfavorable final decision – said in mid-November legal adviser Adrian Goska from the SubiGo law firm.
Now that the District Court in Katowice has revoked the collateral, an unfavorable final decision for the client has become much more likely.
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