White Mountain Property » News » Volksbank sued by 1,000 clients / Bank officials claim did not receive any notification

Volksbank sued by 1,000 clients / Bank officials claim did not receive any notification

Two requests calling to justice Volksbank were submitted on November 8, 2010 to the Bucharest Court, a press release of the renowned lawyers' company Piperea si Asociatii reads. The house of laywers represents over 1,000 dissatisfied Volksbank clients who want to eliminate abusive clauses in the credit conventions with the bank. Contacted by HotNews.ro Volksbank representatives declared that they did no receive any official notification from the Bucharest court. 
 

The first trial term was set for November 7, 2011 with the possibility for laywers to change the trial term. 
The clients claim that there are 25 clauses imposed by the bank that are abusive. The 25 clauses do not refer only to the clauses introduced by the bank based on Ordinance 50/2010 but on other clauses previously exitent in credit conventions. 
On November 9, 2010, a Romanian delegation lead by the president of the consumer's protection agency Constantin Cerbulescu met with EC representatives to initiate dialogue in order to clarify aspects related to article 95 of the Ordinance 50/2010 regarding credits for consumers. 


The Commission declared that it received several complaints from banking and non banking institutions claiming that article 95 from OUG 50/2010, related to the provisions ruled by article 30 from the 2008/48/EC directive has implications regarding the principle of retroactivity and would determine an inconsistency with the provisions of the directive. 
 

The Commission said that it understands the intent of Romanian authorities and wishes to find a solution to ensure an equilibrium between the rights and obligations of the parties involved. 
 

November 19, 2010, 6:35 pm

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