Banking Law News

Law Firm Bets Covid Won’t Slow Flood of Polish FX-Loan Cases (1)

May 28, 2020, 9:35 AM

The coronavirus pandemic and subsequent lockdown isn’t deterring Poland’s foreign-currency borrowers from continuing to file a flood of lawsuits against their banks, according to one of the biggest law firms specializing in such cases.

Despite a slowdown in court activity during the outbreak, the number of suits Votum SA expects to file on behalf of clients this quarter will exceed the 1,540 it had in the first three months, the law firm said in an emailed reply to questions from Bloomberg.

Votum, which has a market capitalization of 143 million zloty ($36 million) and whose shares dropped 17% this year,...

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