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Drzewiecki Tomaszek Wins High LTV Case Against Bank Millennium S.A.


Drzewiecki Tomaszek has reported that, on May 6, 2016 the Regional Court in Warsaw, as the court of second instance, ruled that a contractual provision applied by Bank Millennium S.A. passing the cost of a loan insurance policy on to the borrower was unfair and not binding upon the borrower.

According to Drzewiecki Tomaszek, “the court stated that the loan agreement continued to be binding, however the bank was obliged to return any and all payments collected from the borrower based on the unfair contractual provision to the claimants (Monika and Sebastian Stasiak) represented by Drzewiecki Tomaszek. This means that also in the future the bank shall not be entitled to collect any fees from the lender on the basis of the contractual provision which has been found unfair. The judgment is final. 

Drzewiecki Tomaszek has won several similar cases recently involving banks attempting to pass on the cost of the so-called High LTV insurance to borrowers. The firm reports obtaining similar judgments for clients in several similar cases, including one on January 28, 2016 (Sandrine Jacques vs. Bank Millennium S.A)  and February 23, 2016 (Lukasz Huptys vs. Bank Millennium S.A.). According to Drzewiecki Tomaszek, “these judgments may be expected to constitute settled case-law in respect of the provisions of loan agreements regarding High LTV."

According to Drzewiecki Tomaszek, the defendant bank was represented by Merski Radcy Prawni i Adwokaci Sp.k.

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