BNP PERSONAL FINANCE call in progress

At the Paris Court of Appeal

Paris Court - Judgment of February 26, 2020

HELVET IMMO - BNP PERSONAL FINANCE

GOOD TO KNOW

All the info you need to defend your rights

After 5 years of judicial investigation and investigation, the "Helvet'Immo" trial of toxic credits in Swiss francs, marketed by BNP PERSONAL FINANCE between 2007 and 2009 has just opened at the Court of PARIS.

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It is a very serious chance for victims to obtain redress.

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4,800 victims of this toxic credit are concerned.

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Only 1,600 are represented at the trial!

This is not normal.

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We understand that a silent majority would agree to pay costs increased by 40 to 60% of what was provided for in the contract.

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Because you are already a victim, we have imagined a "mini-Formula" of defense, all inclusive, at the price of 350 € HT to ensure your defense during the hearings and to seek compensation for your moral and financial damage .

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However, it is necessary to come forward to the Court and to become a civil party * in the "Helvet Immo" lawsuit before November 28, 2019

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* Alone or with the assistance of a lawyer

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On average * calculated on a sample of representative situations, the average financial loss caused by this toxic credit amounts to:

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  • € 26,000 for a borrowed amount of € 100,000 (or CHF 165,000)

  • € 60,000 for a borrowed sum of € 170,000 (or CHF 280,500)

  • € 90,000 for a borrowed sum of € 210,000 (or CHF 346,500)

  • 100,000 € for a borrowed sum of 260,000 € (or 429,000 CHF)

  • € 300,000 for a borrowed sum of € 600,000 (or CHF 990,000)

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* Average calculated on the basis of an exchange rate of 1.65 CHF against 1 Euro. The damage fluctuates depending on the exact date of subscription of your credit, the existence of deferred amortization and the exact date of release of the loan by the bank.

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HAVE YOU CONVERTED YOUR HELVET IMMO IN EURO?

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You remain concerned by the trial.

By having converted the amortization of your loan into €, you have consolidated your unrealized losses, but you have avoided that they do not increase for the future.

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Your loss is then easy to calculate: it amounts to the difference between the capital remaining to be reimbursed in € after the " conversion ", and that which it would have been if the depreciation had been made in € from the start.

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The losses resulting from foreign exchange having been very important during the first 5 years, we observe that for a loan of 165,000 CHF in 2008 (100,000 €), with a conversion in 2013, the loss is approximately 40,000 €.

Phileas_edited_edited.jpg

HEARING REPORT - Week n ° 1

Refer to my blog post

Helvet immo: the feverish defense of BNP PERSONAL FINANCE

HEARING REPORT - Week n ° 2

Refer (also) to my blog post

helvet Immo: Everything is clear!

Note: Registered victims receive periodic and detailed court reports

 

Who is concerned ?

Helvet Immo was presented as a mortgage loan agreement , and was marketed in France by BNP PARIBAS PERSONAL FINANCE between the end of 2007 and mid 2009, to individuals wishing to invest in rental property (with or without tax advantage). In favor of a contract taken out in Swiss francs, the bank offered an advantageous nominal rate for the time, around 4% to 4.5%.

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The purchase of Swiss currency and the refinancing of the bank in this currency, taking into account the rise in the value of the Euro (before the Greek crisis), in fact made it possible to lower for the bank the cost price of the 'silver.

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It's hard to believe, but BNP PERSONAL FINANCE had its contract distributed by financial advisers, themselves deceived by the deceptive presentations made by the bank, since in reality, if the rate was attractive, the amortization conditions of the amount borrowed were backed by the variation of the € / CHF pair of currencies and by large monthly foreign exchange commissions.

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The evolution of the CHF / € exchange was as follows between 2009 and 2015:

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HELVET IMMO? What is this ?

CHF _ €_2009_2015.png

So that the value of the repayments made by the borrower are no longer worth anything, and worse, the capital owed to the bank only increases.

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What should we understand?

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You have suffered, at a loss, the effects of changes in the exchange rate: Helvet Immo is a credit refundable in Euros, after an exchange transaction , consisting of converting your Euros (your monthly payments) into CHF, then posting them for the exchange value , (and not for the value of Euros paid), while with 1 Euro, the bank buys less and less CHF as shown in the graph above.

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The 4,600 “Helvet Immo” borrowers are in a dire financial situation, since they have not repaid anything since the start, and they only have 6 to 10 years left to settle the capital .

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Did BNP PERSONAL FINANCE know? Did she know the risks she was making borrowers take?

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This is the stake of the trial.

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We are convinced that - if BNP certainly has the best forecasters in the world - it could nevertheless not fully anticipate a development so unfavorable to borrowers of the € / CHF exchange. On the other hand, it has set up a contractual mechanism which puts it completely sheltered from this hazard, to the detriment of the borrower, while failing to specify it to its clients and concealing from them the risks actually taken .

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This is why the Paris Public Prosecutor's Office requested that the bank be referred to the Criminal Court for "deceptive commercial practices", and that the Examining Magistrate did so, on the basis of a thorough and very meticulous investigation,

The trial took place over three weeks of hearing which ended on November 29, 2019.

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BNP PERSONAL FINANCE was heavily condemned by the Court, a decision it appealed.

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To obtain compensation for the damage you suffer by having subscribed to a "Helvet'Immo" contract, it is important that you are represented by a lawyer. Do not hesitate to contact the firm by email.

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