The Lex Franak citizen's initiative is not satisfied with the speed of Croatian courts and has written a proposed law that would offer reparation of damages to former borrowers that had loans pegged to the Swiss Franc.
The proposed solutions were put together by citizens and experts and until now they have been unsuccessful in presenting them to the Prime Minister, Justice Minister and Finance Minister. Initiative representative Božo Ivošević said that they are demanding that all contracts on loans in Swiss francs be declared completely null and void, noting that experts and citizens have prepared a proposed law titled the Law on Invalidity of Contracts for Loans with a Currency Claus in Swiss francs:
“This is a law that covers all cases that took place until now in relation to the Swiss franc. Meaning for people that are paying loans, people that converted loans, people that were refused loans and are facing eviction, those that were the subjects of foreclosure and those that were evicted. This law covers all bad cases that happened in regard to those loans in Swiss francs. The law enables them to declare the contract completely invalid from the very beginning, it also enables them to receive full restitution or a return of all money paid above the principle, and that return is with interest,” said Ivošević.
“With this proposed law all people that have loans in Swiss francs will be able to resolve their problems. Without this law that is very difficult, each of them must file individual cases and what is worst of all, our court rulings are still different, from municipal courts to county courts and on. So that people don't have legal security, this law would truly provide them with legal security,” said lawyer Ana Galoši Comisso.
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