First court ruling in favor of Romanians with loans in Swiss francs

The Buzau Court ruled that a Romanian should pay the bank installments for a loan in Swiss francs at the CHF/RON exchange rate available at the date when the loan was taken, but rejected however his request to make the payments in RON, reports local Mediafax. The court’s decision is not final however and can be further appealed. The Romanian sued a Piraeus Bank branch from which he took a loan in Swiss francs back in 2007, to prove the unfairness of a contractual clause. The Court ruled that the clause was unfair and that each installment should be paid at the CHF/RON exchange rate available at the date when the loan was taken, namely March 28, 2007 . Almost 200,000 Romanians affected as the Swiss Franc reaches new high against the RON. Volksbank freezes Swiss Franc exchange rate for its clients in Romania. Irina Popescu, irina.popescu@romania-insider.com