Denominated in Swiss francs but repayable in euros, these real estate loans were taken out in the context of the 2008 financial crisis by several thousand people.
In a decision handed down on Tuesday, November 28, the Paris Court of Appeal confirmed the conviction of BNP Paribas Personal Finance (known to the general public for its Cetelem brand) for deceptive commercial practices in the “Helvet Immo” real estate loan case, indicated the lawyer representing the victims to franceinfo.
Sentenced at first instance in February 2020 to a maximum fine of €187,500 for having concealed the exchange risks of this loan taken out by thousands of customers in 2007 and 2008, the company will above all have to pay around 130 million euros in damages and interest !
Denominated in Swiss francs, but repayable in euros, these loans led borrowers to have to repay very large sums due to the fall of the European currency against the Swiss currency in the context of the 2008 financial crisis. Certain amounts to repaying had thus exploded by 30% and some 2,500 borrowers had filed civil suits.
The victims’ lawyer welcomed the decision of the court of appeal by declaring to our colleagues: “ This legal battle, initiated in 2011, has finally found its outcome for all these modest households caught in the vice of toxic loans which have strangled them financially for so many years. »
2023-11-29 09:54:02
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