“Die Presse” of 12/09/2016: Vienna Commercial Court takes pressure off Swiss franc borrower

The borrower represented by Thomas Boller and Max Wälde has taken out a foreign-currency bullet loan in Swiss francs with an Austrian bank.

By letter dated summer 2015, the respondent bank notified the borrower that it would unilaterally deviate from this agreed method of calculation, indicating that the borrower always had to pay interest of at least 0.875%.

The Vienna Commercial Court has now put a stop to this approach: it ruled that the interest calculation method originally agreed upon must continue to be applied – in other words: also in case of a negative indicator value. This judgement has not yet become legally effective.

“Die Presse” Rechtspanorama, Monday 12/09/2016

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