Many debtors agree to a very unfavourable recalculation of the amount owed in bankruptcy proceedings. If they split the debt settlement in two, some could save up to several hundred thousand zloty.
Let us imagine that a person who has taken out a loan indexed in Swiss francs intends to declare consumer bankruptcy. The bank claims PLN 250 thousand on the list being drawn up. The amount results from the fact that the financial institution has terminated the loan and converted the client's entire liability at the current exchange rate.
And yet we can easily find court judgments (for example, in Szczecin, Łódź) stating that the bank has no right to recalculate the amount of the obligation when the loan is indexed in franc at the current exchange rate. To be clear: we can also easily find judgments going in the opposite direction. But if it were held that the bankrupt's claim should be recalculated in accordance with the court's instructions, its amount would fall to PLN 166,000 (instead of PLN 250,000).
– admits Małgorzata Anisimowicz, restructuring advisor and vice-president of the management board of PMR Restructuring SA.
At the same time, he points out that this can hardly be seen as a shortcoming of bankruptcy law itself. After all, it does not serve to resolve doubts between the parties to individual loan agreements.
27 December 2016:
" Francophone falls, trouble with repayment terms remains
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