The EU Court of Justice will rule on WIBOR, addressing whether the benchmark can be challenged and if WIBOR-based loans constitute unfair terms.
Borrowers Hope for Breakthrough
Lawyers representing borrowers hope that Thursday’s CJEU ruling, similar to the court’s previous decision in the Swiss franc Dziubak case, will pave the way for mass lawsuits against banks.
Polish Bankers Association Downplays Lawsuit Fears
The Polish Bankers Association, however, is tempering expectations and asserting that there won’t be a ‘tsunami’ of lawsuits. ZBP emphasizes that such cases are currently few, and previous rulings have favored banks.
Courts Await CJEU Guidance
Experience from lawyers indicates that current lawsuits before courts mainly come from individuals who either know they might lose but still take the risk, or those who don’t fully understand their actual chances.
Meanwhile, most judges handling WIBOR-based credit cases are awaiting the CJEU ruling. Some cases have been formally suspended, while others—though not technically stayed—see no substantive decisions being made.
If borrowers were to win at the CJEU, it could trigger an avalanche of lawsuits and significantly disrupt Polish courts’ approach to these matters.