After the European Court of Human Rights (ECtHR) rejected the lawsuits of the banks against Croatia, the Franak Association said on Saturday that they expect the Supreme Court of the Republic of Croatia to finally confirm the right to compensation for all consumers with converted loans.

It is now the turn of the Supreme Court of the Republic of Croatia, which has a strong wind at its back to finally confirm the right to compensation for all consumers with converted loans, it was pointed out at the press conference held in Zagreb, where the Franak Association spoke about the consequences of the recent ECtHR ruling On December 1, the lawsuits filed by the banks due to the collective case of francs were rejected.

At the conference, the president of the Board of Directors of the Franak Association, Elvis Sudar, the coordinator of the economic and legal team, Goran Aleksić, followed by Ana Herman, whose case C-567/20 from the converted loan was at the EU Court, and the advisor of the Franak Association, lawyer Igor Metelko, spoke at the conference. is, among others, from the Association.

Unfortunately, it was said, the Frank case has not yet been concluded for consumers with converted loans, which is being decided at the Supreme Court these days.

The Supreme Court is deciding on important issues of the right to compensation for consumers with converted loans and on the nullity of entire contracts with a null CHF currency clause and a null variable interest rate, so it is expected that the recent judgment from Strasbourg will be a strong wind at the back of the judges of that court for a quick making new positive decisions, with the certainty that the banks have no chance of challenging such judgments in Strasbourg, was ordered, among other things, from the press conference.

The participants reiterated the reasons why, as they point out, the Supreme Court must confirm to Croatian consumers their right to full restitution after conversion in accordance with Croatian and EU law.

It was pointed out that the President of the Supreme Court of the Republic of Croatia “unofficially promised that the issue of converted loans, as well as the issue of harmless CHF contracts, will be resolved by the end of this year”.

The verdict from Strasbourg is the final chapter of the franc collective case, and the banks now have absolutely no possibility to appeal to any instance in the European Union. This confirmed at the European level that 125,000 consumers from Croatia have the right to sue banks and demand compensation.

It is certainly a great victory not only for Croatian consumers, but for the entire Croatian judiciary, points out, among others, the Franak Association.