Cancellation of loans taken out in Swiss francs

Ydès, through Stéphane Szames, is one of the two legal counsels for the Cephi collective (Collectif des emprunteurs en francs suisses), which has been assisting borrowers who took out loans denominated in Swiss francs for the past 13 years.

Originally formed around several hundred borrowers who had taken out the Helvet Immo loan (a Swiss-franc loan repayable in euros), the collective’s mission has now expanded to assisting cross-border workers earning, or having earned, their income in Swiss francs, and who entered into Swiss-franc loans.

Following the involvement of Stéphane Szames and his colleague Anne-Valérie Benoît before the Court of Justice of the European Union (CJEU), whose judgments have shaped French case law in the mass Helvet Immo litigation, the French Court of Cassation has gone a step further. It now acknowledges that cross-border workers may also seek to have their Swiss-franc loans annulled on the basis of unfair terms, regardless of when the loan was taken out.

Our Expertise

Stéphane Szames and his associate, Pauline Bartier, provide assistance with:

• A detailed analysis of loan agreements to identify any unfair terms under applicable regulations or shortcomings in the information provided regarding exchange-rate risk.
• Effective defence of borrowers’ interests before French courts as well as before the CJEU, regardless of the status of the property financed.
• Individual or collective actions which may, where applicable, result in the annulment of the loan, the award of damages for losses suffered, and partial reimbursement of legal costs.

This expertise is complemented by Bertrand Genaudy, a partner based in Bourg-en-Bresse, who is particularly involved in the judicial handling of disputes and the enforcement of court decisions, especially with regard to enforcement procedures.

His experience further strengthens the team’s ability to support borrowers effectively, from the legal analysis stage all the way through to the actual enforcement of the decisions obtained.

Would you like to find out if you are eligible for the cancellation of your loan?

Visit the Cephi collective’s website for a free review of your contract, a detailed simulation of recoverable amounts, and an introduction to the team of experts by clicking here.