September 2024 – Recognition of invalidity of interest rate adjustment terms in loan agreement – Recognition of the obligation of the other party to return amount of money unduly paid

Decision No. 3161/2024 of the Three-Members Court of Appeal of Athens was issued, recognizing on the one hand the invalidity of interest rate adjustment terms in a series of loan contracts that connected our client, a trading company, with the defendant bank (following a non-final decision of the same Court, which ordered the carrying out of an accounting expert opinion), on the other hand, the obligation of the defendant bank to pay our client the total amount of 220,868.24 euros as unduly paid (due to the invalidity of the interest rate adjustment terms). In addition, due to its total loss, the opposing bank was charged with the entire legal costs (including the fee of the Court-appointed expert) of our client, which the Court determined at the total amount of €12.540.

For more information on this decision and the legal issues it deals with, click here.