The Court did not find any violations of the constitutional and convention rights pointed out by the banks in the constitutional lawsuits.

The Constitutional Court of the Republic of Croatia dismissed the constitutional lawsuits filed by seven Croatian banks against the verdicts of the Supreme Court of the Republic of Croatia and the High Commercial Court in a collective dispute initiated by the association of consumers due to unfair contractual provisions related to Swiss franc.

The Constitutional Court did not find any violations of the constitutional and convention rights pointed out by the banks in the  constitutional lawsuits.

Mr Šeparović, the President of the Constitutional Court, added that the collective dispute in which the applicants claimed that the contractual provisions on the currency clause and the variable interest rate in Swiss francs were unfair has now finally ended. This puts an end to these proceedings in Croatia. As a reminder, The collective lawsuit in the case of Swiss franc was initiated back in 2012.

Such a verdict comes only a day after the announcement that the Government of Croatia reached an agreement with 6 banks to terminate arbitration proceedings. To read more about it, click here.