Our colleagues from Ketler & Partners, member of Karanovic, Minu Anamaria Gvardjančič and Urša Jerman, together with the team, have successfully submitted, on behalf of the clients, the assessment of the constitutionality of the Act on the limitation and allocation of currency risk between lenders and borrowers of loans denominated in Swiss francs (“ZOPVTKK”).
Following the initiatives, the Constitutional Court of the Republic of Slovenia issued the decision suspending the implementation of ZOPVTKK, on Monday, 14 March 2022.
This was an immense task for our colleagues, since ZOPVTKK represents unconstitutional solutions and disproportionately interfere with the rights of creditors. The implementation of ZOPVTKK would have, in addition to direct effects on the banking sector and capital of individual lenders, much broader and extremely negative effects on the economy and macroeconomic stability.
The decision brought by the Constitutional Court of the Republic of Slovenia is a step in the right direction while at the same time it gives hope that they will repeal ZOPVTKK after a substantive review of it. The decision will be known in the coming months.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.