21:13 12 December 2024
CJEU issues judgement for Swiss franc borrowers from Getin
The European Court of Justice (TSUE) ruled that merging functions within Poland's Bank Guarantee Fund (BFG) does not automatically invalidate the forced restructuring of Getin Noble Bank (GNB). This decision, unfavorable to borrowers with Swiss franc loans, may limit their ability to sue the state for damages.
In 2022, BFG restructured GNB due to insolvency risks, transferring healthy assets to VeloBank and leaving toxic loans in the insolvent GNB. Over 8,000 complaints were filed with Poland’s administrative court (WSA), raising procedural and legal concerns. TSUE clarified that individual complaints must be fairly considered, even if grouped procedurally.
TSUE did not declare the BFG’s actions invalid but stressed the burden of proving independence. The case, paused for two years, resumes amid ongoing legal ambiguities.
(pb.pl)
