Rokas (Bucharest) success

It is our professional satisfaction to announce that the Bucharest Team, succeeded in defending one of the important Banks on the Romanian market in a “class court action” initiated by 71 consumers. The value of the class court action against the Bank, by a gross estimation, was of 4,000,000 Euro. The consumers demanded that the provision stipulated in their credit contracts related to the reimbursement of the loan in the Swiss franc currency to be considered an abusive provision, even though the loans were granted from the beginning in the Swiss franc currency. The consumers claimed that such provisions would be abusive since their loan installments have (more than) doubled in the last few years due to the increasing exchange value of the Swiss franc currency. The consumers tried to obtain the freezing of the Swiss franc currency at the existing exchange value on the date of the credit contracts’ conclusion and the loans’ reimbursement in the local currency instead of Swiss franc currency. The Rokas Bucharest Team obtained the rejection of all these claims due to the exquisite expertise on such matters, hard work and professional support of the Bank.