Loans in foreign currency and borrower’s rights, Part 2

Loans in foreign currency and borrower’s rights, Part 2

On the 14th of April 2014 I wrote an article about loans in foreign currency and the rights of borrowers.

The link to that article is here.

The article dealt with the Opinion delivered by Advocate General Wahl, in Case C-26/13, Árpád Kásler and Hajnalka Káslerné Rábai v OTP Jelzálogbank Zrt, before the Court of Justice of the European Union (“the Court”). There I concluded that if the Opinion of the Advocate General is adopted by the Court, it may open new avenues for borrowers to challenge existing loans made in foreign currency across the European Union.

On the 30th of April 2014 the Court delivered its judgement.

The decision is available here.

The implications of the decision are analysed in an interview I gave to Anne Bruce of LexisNexis on 22/05/2014 that was first published on Lexis®PSL Commercial.

The interview is available in pdf format here.

For more information on this matter please contact our law firm.