The government is coming to the rescue of Swiss franc borrowers. New regulations are intended to simplify and speed up procedures.

The draft of the so-called Swiss franc law is to be considered by the Standing Committee of the Council of Ministers on July 24, according to the agenda of the SKRM meeting.

The adoption of the bill by the government was originally planned for the second quarter of this year.

The new regulations are intended to simplify and expedite proceedings in Swiss franc cases, thereby reducing the workload of courts and shortening the duration of proceedings in other types of cases as well. The Ministry of Justice expects the law to come into force in 2025, with a vacatio legis of 14 days.

According to the bill, consumers suing banks will not have to submit applications for security, including suspension of installment repayments – the suspension of installment payments will occur by operation of law.

It is also planned, among other things, to extend the possibility of adjudicating in closed session both in the first and second instance, as well as to enable the submission of an application for settlement of a counterclaim in one court proceeding.

The bill also introduces incentives for out-of-court settlements, including fiscal benefits for parties who choose not to pursue further litigation. (PAP Biznes)

tus/ gor/