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Case C-520/21, Bank M. (Consequences of the annulment of the contract): Judgment of the Court (Fourth Chamber) of 15 June 2023 (request for a preliminary ruling from the Sąd Rejonowy dla Warszawy — Śródmieścia w Warszawie — Poland) — Arkadiusz Szcześniak v Bank M. SA (Reference for a preliminary ruling — Unfair terms in consumer contracts — Directive 93/13/EEC — Article 6(1) and Article 7(1) — Mortgage loan indexed to a foreign currency — Conversion clauses — Determination of the exchange rate between that foreign currency and the national currency — Effects of a finding that a clause is unfair — Effects of the annulment of a contract in its entirety — Possibility of asserting claims that go beyond the reimbursement of the amounts agreed in the contract and the payment of default interest — Damage incurred by the consumer — Unavailability of the amount of the monthly instalments paid to the bank — Damage incurred by the bank — Unavailability of the amount of the capital paid to the consumer — Deterrent effect of the prohibition on unfair terms — Effective protection of the consumer — Judicial interpretation of national legislation)
ECLI:EU:UNKNOWN:62021CA0520
62021CA0520
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31.7.2023
Official Journal of the European Union
C 271/4
(Case C-520/21, (<span class="oj-super oj-note-tag">1</span>) Bank M. (Consequences of the annulment of the contract))
(Reference for a preliminary ruling - Unfair terms in consumer contracts - Directive 93/13/EEC - Article 6(1) and Article 7(1) - Mortgage loan indexed to a foreign currency - Conversion clauses - Determination of the exchange rate between that foreign currency and the national currency - Effects of a finding that a clause is unfair - Effects of the annulment of a contract in its entirety - Possibility of asserting claims that go beyond the reimbursement of the amounts agreed in the contract and the payment of default interest - Damage incurred by the consumer - Unavailability of the amount of the monthly instalments paid to the bank - Damage incurred by the bank - Unavailability of the amount of the capital paid to the consumer - Deterrent effect of the prohibition on unfair terms - Effective protection of the consumer - Judicial interpretation of national legislation)
(2023/C 271/05)
Language of the case: Polish
Referring court
Parties to the main proceedings
Applicant: Arkadiusz Szcześniak
Defendant: Bank M. SA
Intervening parties: Rzecznik Praw Obywatelskich, Rzecznik Finansowy, Prokurator Prokuratury Rejonowej Warszawa–Śródmieście w Warszawie, Przewodniczący Komisji Nadzoru Finansowego
Operative part of the judgment
In the context of the annulment in its entirety of a mortgage loan agreement on the ground that it cannot continue in existence after the removal of the unfair terms,
Article 6(1) and Article 7(1) of Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts
must be interpreted as
—not precluding a judicial interpretation of national law according to which the consumer has the right to seek compensation from the credit institution going beyond reimbursement of the monthly instalments paid and the expenses paid in respect of the performance of that agreement together with the payment of default interest at the statutory rate from the date on which notice is served, provided that the objectives of Directive 93/13 and the principle of proportionality are observed and,
—precluding a judicial interpretation of national law according to which the credit institution is entitled to seek compensation from the consumer going beyond reimbursement of the capital paid in respect of the performance of that agreement together with the payment of default interest at the statutory rate from the date on which notice is served.
(1) OJ C 64, 7.2.2022.
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Language of the case: Polish