The Limited Times

Now you can see non-English news...

Toxic loans: BNP Paribas ordered to pay 127 million euros to injured customers


The BNP Paribas credit subsidiary was heavily condemned on Friday by the Paris Court of Appeal for "deceptive commercial practice"

"It balances the heart, we have been heard and it proves that the earthen pot can split the iron pot", breathes Magali Aumont.

At nearly 50 years old, this biochemist, engineer at the CNRS, is relieved.

With her husband, she will very soon receive a transfer of nearly 100,000 euros from BNP Paribas Personal Finance (BNP PF), the main loan subsidiary of BNP Paribas.

This Friday, BNP PF was ordered by the Paris Court of Appeal to immediately pay its 2,500 civil party clients the record total sum of 127 million euros.

The first president thus confirms the enforceability of the judgment rendered by the Paris Criminal Court on February 26, which had condemned him for “deceptive commercial practice” and “concealment” in the marketing between 2008 and 2009 of his real estate loans called Helvet Immo.

A historic amount like the scandal for ten years of toxic loans, these real estate loans at variable rates denominated in Swiss francs which have turned out to be real barrels of the Danaids.

Because these loans, backed by the Helvetian currency, have seen their amount rise at the same time as the Swiss franc has appreciated as a safe haven with the subprime crisis in 2008. Subscribed in January 2009, the mortgage of 170,000 euros of couple Aumont was to allow him to buy and rent a three-room apartment in Saujon, near Royan (Charente-Maritime).

"Fear has changed sides"

“During our purchase, my husband, a firefighter, was benefiting from official accommodation and we wanted to make a rental investment to prepare for the day when we would no longer have a roof but that ruined us,” she sighs, figures supporting.

Taking into account all our monthly payments of 1,050 euros paid for nearly ten years, we should have already reimbursed 100,000 euros when the bank claims more than 185,000 euros in its last statement received this week ", s' exclaims Magali Aumont.

This inconsistency is all the more damaging for this couple with two children since they have meanwhile lost their official accommodation while their investment has devalued to nearly 90,000 euros ...

So of course, the conviction by the Paris Court of Appeal of the BNP Paribas subsidiary to immediately indemnify each civil party, regardless of the outcome of their appeal on the merits, is perceived as "recognition, a positive signal. for the future even if we know that the procedure will last several more years, ”notes Magali Aumont.


Crimes against humanity in Sudan: BNP Paribas targeted by an investigation opened in France

For their lawyer, Me Charles Constantin-Vallet, this judgment is a strong symbol.

“It is exemplary: it rejects BNP PF in its request to suspend the payment of compensation, judging its procedure to be ill-founded.

Not only does he call her to order but additionally condemns her to pay 1,500 euros in procedural costs to each of the 2,500 civil parties ”, he insists, convinced that“ fear has changed sides ”.

Newsletter "It pays me"

The newsletter that improves your purchasing power

I'm registering

Your email address is collected by Le Parisien to enable you to receive our news and commercial offers.

Learn more

For its part, the BNP Paribas subsidiary confirms its intention to indemnify the civil parties for an amount "of the order of 127 million euros".

"We will comply with this order as soon as possible, that is to say in the next few days or weeks", specifies his lawyer, Me Philippe Métais, even if he still intends to study "the opportunity and the possibility of doing call ”.

Source: leparis

You may like

Business 2020-05-18T07:56:09.761Z
Life/Entertain 2020-06-10T10:22:51.762Z

Trends 24h

Business 2020-10-28T16:18:04.733Z
Business 2020-10-28T16:21:10.207Z


business 2020/10/28    

© Communities 2019 - Privacy