The end of 2023 was definitely favorable for Swiss franc borrowers. What’s left for the banks?
The Court of Justice of the European Union issued two judgments clearly stating the issue of the limitation period for the bank’s claims (cases C-140/22 and C-28/22). The consequence must be that banks will quickly seek a refund of the capital paid out years ago.
To avoid the limitation of these claims, according to the law, the lawsuits must be filed immediately, in 2023. What does a lawsuit for the return of paid capital mean for a Swiss franc borrower and how can one defend against it?
December’s success – resolution on the statute of limitations
The issue of limitation periods was resolved by the second judgment of the Court issued on December 14 in case C-28/22. The first point of the operative part states that the bank’s claim cannot become time-barred later than the limitation period for the customer’s claim for reimbursement of funds paid to the bank in respect of installments begins.