Automatic suspension of obligation to pay installments assumed in draft law on CHF loans generates risk of abuse - KNF
Poland's financial market regulator KNF expressed its concern in an opinion to the draft law on CHF loans, saying that the automatic suspension of obligation to repay loan installments assumed in the draft seems to remain a disproportionate solution and it may generate a significant risk of abuse.
Pursuant to the draft law, upon delivery of a copy of the statement of claim to the defendant, the consumer will be subject to suspension of the obligation to repay the loan by law.
"The automatic suspension of the consumer's obligation to repay loan instalments envisaged by this provision of the project (eliminating the need for the court to examine relevant applications for collateral) seems to remain a disproportionate solution and generating a significant risk of abuse," KNF assessed in its opinion.
"Suspension of the obligation to repay loan instalments (which may cause significant negative effects for the lender, taking into account its duration until the final termination of the proceedings), as a result of the regulation in question, will not require the confirmation of the consumer's claim," it added.
In February, Poland's Ministry of Justice sent for consultation a project aimed at accelerating matters related to loans in CHF. The draft assumes, among others, the suspension by law of the obligation of the consumer to meet the benefits resulting from the loan agreement until the final conclusion of the proceedings. The project assumes faster recognition of cases concerning CHF loans, i.e. shortening the time limits for hearing cases by district and appellate courts.
seb/ ao/
