Our law firm offers professional legal assistance to clients who have found themselves in a difficult financial situation as a result of unfair contractual provisions used by banks in franking credit agreements (although it is better to say that it is a case of zloty loans linked to the exchange rate of the Swiss franc). Litigation for the invalidation of a ‘franking’ agreement (or any other modification in line with the client’s interests) is complex and requires in-depth knowledge of the subject matter.
We also represent clients in cases where the court declares that the WIBOR, one of the key parameters affecting the cost of a loan, is structured defectively and constitutes an unauthorised contractual clause, as it is not subject to individual agreements with clients.
Lawyers dealing with ‘franking’ and WIBOR reference rate cases are resistant to manipulation and sometimes even intimidation by banks. Financial institutions want to discourage clients from going to court; most often they warn that they will terminate the loan. A consumer who is inexperienced in this type of case may succumb to blackmail and decline to take legal action, even though he or she has every reason to obtain a favourable outcome.
In the ‘franking’ cases, the lawyers aim to convince the court that the banks’ clients did not realise the risks involved in taking on the obligation and were misled about the chances of fluctuations in the exchange rate of the Swiss franc against the zloty. Lenders did not duly fulfil their duty of information. The entire risk was shifted to the borrowers. In the actions brought by ‘zloty’ borrowers, on the other hand, we will show that the WIBOR is not a reliable indicator for determining the interest rate of a loan, as, due to various economic events in the market, it is more a declaration by the banks about the rate at which they could lend money to each other than the actual rate.