In the heat of discussion, what to do to help the victims frankowych loans – and thus defuse the ticking bomb, social and economic. In the ocean complaints and complaints about the callousness and greed of the banks. In the jungle of vague promises and twisted analyzes, which our politicians deign. This information noise, which is trying to flood the decks of helplessness. Eludes us one small – seemingly – detail. Bank enforcement. A powerful tool that in the hands of the legislature gave financial institutions. And that makes the banks are really all-powerful and not very interested in this, to lean over the fate of their clients, to get along with them. They do not need this if you are using the BTE just take what your. Or what we would like to have. And almost no one is able to resist them, and the control which should exercise over the court, is illusory. In recent years, various options were trying to deal with this hydra that puts banks in a situation highly privileged – not only in relation to their customers, but also to other participants in economic life.
On BTE repeatedly spoke about the Constitutional Court (expected to again take up his case), repeatedly tried to change the law to throw away a tool or at least weaken its effect. Since lie in the Sejm two draft amendments to banking law. One, by the PSL, wants dulling the blade BTE, the second – proposed by PiS – remove it from the legal and economic reality. But no, it seems that something had to change. Reason: lack of political will. And the results we have what we have.
– If an entrepreneur wants to assert claims of the debtor, must be paid to the court that decides whether the debt is or it is not, and possibly his awards download – says Zbigniew newcomer, owner of Kram, president of the Association for the Defense of Polish Enterprises. – The Bank does not have this trouble. Issue a writ of execution, the district court within a few days, check whether the documents formally not in doubt, and gives them the title of feasibility. The fact that something is wrong, man learns how it is after all: it has cleared the account and the bailiff sitting on his property. Can of course go to court, but it is swept. Most often fall victim BTE individuals and small businesses. Big big not familiar. Known.
Ripped off in the options, shoot BTE
The institution is not a figment of BTE present time. Their counterpart was still operating at the time of the Second Republic, protect financial institutions against dishonest debtors. Except that, as noted by Dr. Andrzej Krajewski, a historian and journalist, deputy director of the Wroclaw branch of the IPN, it was a very different reality than it is now. Most large banks were state, so the young state is cared to effectively enforce debts. – Well, the courts, in contrast to what we see today, worked quickly and efficiently – adds Krajewski. Then the bank enforcement orders (as we then called) is pleased to People’s State intercepted and used by him eagerly. Except that znowuż – during PRL all financial institutions belonged to the state, so it had a good reason to keep the word tool ready to defend their interests. After transformation, a kind of inertia, BTW, rechristened BTE, almost unchanged moved to a whole new reality. I n the majority of banks is not only private but also belong to foreign owners. In addition, the economic reality also has changed: once banks took deposits and grant loans. Currently trading complex financial products, which do not understand the essence of most people with economic education, of ordinary bread zjadaczach not to mention. Other civilized countries deal without such cepa – instead they have generally acting right, the same for all. But enough theorizing, ad rem. Although BTE was used widely by banks to collect debts from debtors ever since, for the first time about it loudly made on the occasion of scandal associated with currency options.
It was 2007. year hot and full of tension, but no one else would never have even thought that in the next, in September, will be the crash, from which the world economy does not gather together to this day. On the contrary, it seemed that will only get better and better, gold rose to power, we bought more and more houses (for credit, of course), and bigger, more fuel-burning cars. Only exporters nervous that even a little, and they will have to pay extra for their products. In a moment she had to enter the Polish legislation Directive MiFID (Markets in Financial Instruments Directive) which regulates the obligations of banks to clients. But as it was also a year of great political tension, autumn governments – the Law and Justice – took over the platform. It’s her time to the bill entered – her pinned, nor is loose – the obligation to sell by the NBP National Depository for Securities. The President gave the law to the Cons titutional Court (in 2009. Denied the constitutionality of this provision), so inevitably we were on for several months without any legal protection in terms of financial instruments. I then entered the market currency options offered by banks. They were to be a kind of insurance, protection of entrepreneurs against currency fluctuations. Interestingly, the contract can be concluded only by phone, and “advisors” getting to entrepreneurs in the strangest places and time. Sometimes he would grunt caller was perceived as consent to the transaction. Here is a transcript of the interview sample, used later in court.
Advisor: Hello, can you hear me?
Client: Hello … because I just stand here, but no … the police was, and I’m going by car.
D .: Okay. It confirm to myself, okay? I counted, everything is correct.
Q. Uhmmm.
D.: Already, the moment.
Q. A rate will not go up? What do you think? Ojejejejej.
D.: Halo and password?
Q. Hello?
D.: Halo, and what the password? Hello?
Q. No tera I can not, not really. I call to you.
D.: But you know what? I’ve confirmed this transaction. I have to close it.
Q. Aha, aha. (Something inaudible)
D.: Mr password?
Q. Yes.
D.: No no, you have a different password.
K. : (something inaudible)
D.: How?
K. : (given password)
D.: Yes. Okay, that reaffirm itself. The transaction with the company X, the structure of zero cost. I sell you a 1, 2, 3, 4, 5 put option with odds of 3.35 on 100,000 of each 18 sierpień 16 September, 15 October, 17 November and 8 December. We finance these transactions call five options disabling barrier. The course of exercising the option is 3.21.
Q. Uhm …
This is obviously an extreme, but not the only example, when people were pressed on the strength of something you do not want. Some, of course, have expressed interest, but did not understand. Because if understood, toby did not accept. – Entrepreneurs think that the interest lies in the fact that they are buying insurance against further increases in currency exchange rates. But I did not know that at the same time insure the bank in case the exchange rate went down. Except that if banks ubezpieczały company to a certain amount, then the other side of the barrier was gone. To sum up: usually the case that a trader could earn 20-80 thousand. zł. A bank several dozen or more million – explains attorney. Ireneusz Malerowicz from Torun leading several such cases against banks. There had to be a disaster, a moot point – whether accidental or planned and meticulously carried out. Businesses, of course, bet the second option first major gl obal financial institutions to buy up gold, would lead to its strengthening, then threw it on the wholesale market. According to backstage information (coalition politicians for obvious reasons they do not confirm today) from the market in 2008 focused. 20 billion zł. Not the first nor the last time our currency was the victim of such attacks.
A wave of bankruptcies
In any case, after the great having increased exchange rate in August 2008 . there was a decrease – gold soaring to weaken (Euro exchange rate has increased by more than half from 3.17 to 4.75 zł zł.). Very felt the owners frankowych loans, for which – as early as January 2009. – Their service has become extremely expensive. And even more business.
Zbigniew newcomer was surprised when it turned out that one fine day it attacked two banks ING and Fortis. The first took account of the company’s 2.4 million zł. The other 1.35 million zł. Banks were in the law had in hand signed by Outsider declaration of voluntary submission to enforcement, and a requirement to use the BTE. Except that, as explained entrepreneur, these statements submitted to framework agreements it made with financial institutions. Were supposed to exchange currencies round his company make any such operations.
Another thing that many banking customers signed by such statements, having no imagination, how they can be used later. As is clear from the survey conducted by the OCCP among the ten largest banks in 2009., Most of them suggests customers to sign a declaration of voluntary submission to enforcement with the contract for a loan or a loan, not telling what it safe. Anyway, the situation is zero-one: you want money, bill, card – sign. No, it’s not. In 2009 alone. Banks issued 700 thousand. BTE.
Head stall narrowly escaped bankruptcy – managed to sell a new production line, of course, “the cheapness” but maintain liquidity production. He survived, went to court. With ING has already won, he got compensation. Fortis case is pending. She advised me also from Silesia Olmet company trading in steel, but says Catherine Derbis, director. Economic and trade, nearly fell, when it turned out that they owe the bank from the options 8 million zł. The case is still in the first instance, I have not spoken to experts. – But how much was among other businesses because of this tragedy: bankruptcies, suicides and divorces, employees thrown to the pavement, you only know what it survived – Derbis sighs.
Attorney Malerowicz translators that before such a tool as BTE hard to defend. For several reasons. Because often a man learns that it has been paid against him only when the account has already were occupied, and the bailiff knocking at the door. Another reason is that even though – according to the law – the court at the request of the bank has three days to give the title enforceable or formal reasons to reject it, there is no time frame, no provision, how fast justice should respond to a customer complaint . And it usually takes a long time. – The best result that I was able to get two months after lodging a complaint to the district court for a declaration of enforceability, which gave the district court – says the lawyer. – Although we won, but the bank already took all the money he wanted, and remained a long way to process a refund – throws up his hands. Another case: proceedings zażaleniowe lasted for 10 mon ths, was a success. But the bank issued next BTE, in the same case, improved. It is common practice that financial institutions issue writs of execution until the effect, but according to the principles of good practice Polish Bank Association should not do so. – I gave up my client – attorney admits. Malerowicz. – He made a deal with the bank, paid, although less than initially demanded from him.
People in this way are buying it up, try to save liquidity to avoid having to close the deal. I talk to the owner of the furniture, which – as he says: rape – has been forced by the bank to enter into such an agreement. – The Bank has generated in my case zł 17 million debt. Pozajmował account. I signed a deal, I paid 4.8 million zł. For six years biedowałem. But now I tore a settlement, we litigation. I fight.
When Poland row, sweeping associated with currency options, the response of the financial world was the same as today, when it comes to loans francs. Governors, various economic experts repelling charges, explaining that entrepreneurs know what come – this is a business risk: once you gain, lose time. This translation was unpopular. It was easy to make a public opinion against “greedy businessmen” who as earned, then sat quietly, and now the demand is not known what. Anyway, the world crisis raged, and we enjoyed the status of the green island. Although the problem has frankowymi loans swelled, but in the face of a global economic catastrophe, threats bankrupting states and the disintegration of the EU did not seem so important. An option Act as it was then called, the center of which came down to the fact that until the resolution of the dispute before the court the bank has no right to occupy bills did not pass, though it was just ar ound the corner.
In 2011,. The Constitutional Court once again (the first, suitable for BTE decision was reached in 1995., the next in 2005.) addressed the issue the writ of execution. This time we decided that certain provisions of the Banking Act and the related paragraphs of the Civil Procedure Code is contrary to the principle of social justice. However, do not significantly changed the situation of the banks’ customers. Another request is pending. And perhaps TK wants to lean over in the current era, when – like a sword of Damocles – not just over the heads of frankowiczów, but on the whole our economy – hang the potential bankruptcy of hundreds of thousands of people. Such as Magdalena Hodak from Lodz. History, like many others, like without departing from those in the last few days swept through the media and blogosphere. However, very eloquent. Magda Hodak together with your partner took a mortgage on a house in 2007. Cheapest what they could. Both are educated, intelligent people, aware of the risk of exchange rate fluctuations, but also took into account the Government to ensure that in 2011. Poland joins the euro area, so risked – as they thought – only four years. I did not expect jumps exchange rate greater than 20 percent. Ba, bank advisors assured that things are going better and better. But it went from bad to worse, with 1.5 thousand. monthly payment made to 3 thousand. zł. Magdalena and her partner paid regularly, but the company went bankrupt man – With 438 thousand. zł, which we took, was paid 130 thousand., of which only 30 thousand. This capital. I went to the bank to negotiate, I wanted to get along, always pay off, though not as much as they wanted – he says. Enveloped with the amount of 800 francs, when the bank terminated the agreement and issued BTE – 700 thousand. zł. Penalty interest multiplied like rabbits: 330 zł per day. Have had hard times: twice bl ocked the auction house, which was to go for a fraction of the price. The first time was valued by certified bank 250 thousand. zł, while the plot itself is worth 100 thousand. After heavy battles property has been underestimated: 300 thousand. zł. Magdalena has a history of severe depression, suicidal incident her partner. But somehow collected the. They fight on. Challenged the bank to court.
Attorney Anna Lengiewicz LWB from the Warsaw office, the same who was one of the first lawyers sent a (successful) class action lawsuit against insurers and other institutions that nabijały Poles polisolokaty, he realizes that the situation of bank customers in the current legal reality is extremely difficult. Because on the one hand, they failed to contract, which was signed by the other reality screeches. On the third and there is no real political will to anything to do with this embarrassment. Instead, it is a concrete wall, through which it is difficult to break, not having available dumdum bullets, or at least old-fashioned cannon. – Banks weigh myself despise ordinary customers – writes attorney. Lengiewicz. I recently happened to her is a story that the customer payment on her account killed 700 euros. The Bank maintained that he has no idea what happened. – If I was not a lawyer wyszczekaną, poległabym. And still investigat ing this amount it took me half a year – he says. And argues that perhaps the matter at least in part to resolve the appointment of an ombudsman banking customers. Along the lines of the one which operates in the UK in relation to clients of insurance companies. – There for each complaint examined by the spokesperson must pay, and these are the specific amounts – explains attorney. Anna Lengiewicz, so they try to claim it was the least. If this mechanism to move on financial institutions to bank customers just got easier.
Now is it that even though more and more of BTE say, it actually does not do anything. Last occurrence of Deputy Prime Minister Janusz Piechociński made the hopes of Poles in top-down settlement of this issue have been allayed. He did not have to propose debtors nothing more than what was previously declared by the banks. And they do not intend to change the status quo. The message is simple: just pay, because if you do not, you will bitterly regret. And no one behind you is not going to be recognized.
The West does not need BTE
When I asked about the BTE several institutions branded by the Polish state, I got a bundle evasive answers. According to the OCCP biggest problem is dormant accounts, that is, those which are forgotten by their owners, and banks charge a fee for their conduct. KNF said that “in the discussion about the nature of BTE on the one hand should be considered equal footing exhibitors BTE and the alleged debtor, on the other, to take into account the need for the efficient running of execution”. As the role of the KNF is “taking care of security deposits collected in the supervised entities.”
So what? Citizen, you’re on your own. Vice President of the Polish Bank Association argued Jerzy bubble me that BTE is the most economical solution for the customer. If not for the title, had argued for the banks nothing would have changed. Financial institutions simply benefit from solutions widely known in the legal environment as “three sevens” (art. 777 CCP), which boils down to the fact that transactions on a larger scale shall be a notarial deed in which the debtor is obliged to repay the debt in order of immediate execution of the required amount. So the same thing, but more expensive, because the fee increased by a notary public.
Apparently yes, but not quite. World somehow copes without BTE. In addition, for this reason, the price of money does not grow. Mr Wieslaw Janczyk, Chairman of the Parliamentary Subcommittee on Financial Institutions, argues that consumer credit in Poland is three times more expensive than the EU average. – Should standardize banking services – says. Just as the tools that are held by banks. If you managed to unify the interchange fee, tip chargers for mobile phones and roaming charges, just equate Accomodation tax should be lent money and instruments for their recovery. It seems simple? It’s every reader let alone say, glancing at the bank statement earlier.
Bank issues BTE, the court quickly checks whether the formal documents are not in doubt, and gives them the title of feasibility. The fact that something is wrong, man learns how it is after all: it has cleared the account and the bailiff sitting on his property.
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