Slovenia High Court CHF Loans

Slovenia: highly controversial ruling from the Supreme Court in favour of the bank sparks debate

Posted on 11/02/2019 · Posted in News

In October 2018, the Supreme Court of the Republic of Slovenia stated that too much information could be detrimental to consumer’s ability to make a good choice. This Court rejected the requirement of informing the consumer with correct and complete information as an excessive concern for the consumer, showing a significant lack of understanding of the objectives of consumer protection as an element of the current market economy.

The Slovenian consumer protection association, Združenje Frank,  firmly hopes that this opinion will not become a criteria for assessing consumer disputes in the Slovenian court, because this is a significant deviation from the European Union’s directives. Moreover, the mentioned association reports that Slovenia, unlike the European Union, doesn’t have a strategy for the development of consumer protection.

In view of the fact that the Supreme Court of Slovenia ruled in favor of the bank, the borrower and his attorney are currently preparing the constitutional appeal. It is important to note that if the Constitutional Court decides not to accept the case, this is free to go to European Court of Human Rights.

Once again, the Slovenian consumer protection association calls for the adoption of a law allowing the harmed consumers to repay the borrowed loan fairly, and also for the banks to take their responsibilities for the problem.