Votum pursues damages claims for clients of financial institutions in the area of personal and property claims as well as abusive clauses in FX mortgage loan agreements. We believe the segment of pursuing claims from abusive clauses in FX loan agreements is thriving at the moment.
The Company has been the beneficiary of a growing number of pro-consumer court sentences as well as of growing interest of CHF borrowers in the court path following the first batch of favorable court sentences coupled with clear proconsumer case-law which was recently reinforced by the CJEU ruling regarding the case C-520/21 on the remuneration for the use of capital in CHF mortgages issued in June as well as the most recent judgment passed in the case C-140/22 regarding effects of customers statements.
Given numerous unfavorable court sentences banks strive to encourage their clients with FX mortgages to strike agreements, but due to favorable caselaw (most court sentences annul FX mortgages agreements) the benefits stemming from litigations clearly outweigh those from entering into agreements with banks which coupled with a substantial dispute value leads to an inflow of new clients to the Company.
Moreover, in the current macroeconomic environment bank clients are discouraged from striking agreements with banks as a higher level of interest rates resulting in higher installments of PLN-denominated loans makes the FX loan conversion into PLN less attractive.
Besides, Votum has started offering services related to pursuing claims from abusive clauses in selected PLN-denominated loans (so called “the old portfolio” loans and those with deferred repayment of part of a loan). Votum has started pursuing claims from irregularities in consumer loans which according to the Company surface in numerous loan agreements an which may lead to free loan penalty.
