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Sunday 17th October 2021
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Swiss Franc Loans

Swiss Franc loan nullified following ECJ ruling

A legal test case resulted in a Swiss Franc loan being declared null and void by the Warsaw District court on Friday, leaving the banks in Poland open to losses estimated at €10.2 billion.

Court annuls Alpha Bank Cyprus fine

The Administrative Court has annulled a fine of €250,000 imposed on Alpha Bank Cyprus by the Cyprus Consumer Protection Service (CCPS) in October 2016 for unfair terms in its loan contracts.

Poles with loans in Swiss francs win EU case

Around half a million Polish homeowners with Swiss franc loans have won their case in the European Court of Justice, which has ruled they can ask the Polish courts to convert their loans into the Polish Zloty.

Alpha Bank loses Swiss Franc loan court action

Alpha Bank Cyprus has lost a court action it took against a British national who failed to comply with the obligations of his Swiss Franc loan agreement with the judge at the Larnaca District court awarding costs to the defendant.

Driven to poverty by Swiss franc loan

A British woman who bought a property in Cyprus with a Swiss franc loan and who is now swamped in a mountain of debt after her partner left and the loan repayments almost quadrupled speaks to the Cyprus Mail.

Swiss franc loan annulled in Slovenia

In a ruling that could have implications for the Cyprus banks, a Slovenian court has annulled a Swiss Franc loan used to acquire property because the bank failed to advise the customer of the risks.

Swiss Franc mortgages interim judgement

The first Cypriot (interim) judgement has been awarded by the Nicosia District Court in a case that affects many bona fide borrowers who bought property with a loan denominated in Swiss Francs.

Alpha Bank Cyprus fined (update)

Alpha Bank Cyprus has been fined a quarter of a million Euros by the Office of Competition and Consumer Protection (CCPS) following its investigation into the company's business practices.

MPs warn banks over Swiss franc loans

MPs in Cyprus have warned the banks that they might pass punitive legislation if they fail to offer households with Swiss franc loans better terms; many borrowers claim they were misled to the real risk involved.

Swiss Franc loans: 80 per cent non-performing

Although Swiss Franc loans declined €274 million in the first half of the year, 80 per cent of the remaining €1,778 million are non-performing according to the head of the Cyprus Central Bank's Supervision Division.

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