| Author (Corporate) | European Court of Justice, Information Service |
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| Publisher | European Court of Justice (ECJ) |
| Series Details | C-630/17 |
| Publication Date | 2017 |
| Content Type | Overview |
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Summary: A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders which were not authorised to provide credit services in that Member State. Jurisdiction of the national court to determine whether a person taking a loan for a dual purpose is a consumer. Advocate General Tanchev proposed in his opinion that the Court should rule that a national law that allows loan contracts concluded with foreign lenders who were not authorised to provide credit services in that country to be retroactively annulled is contrary to EU law when the same law does not apply to Croatian lenders. Such a law annulling the contracts retroactively for periods dating back to up to seventeen years when the same rule does not apply to unauthorized lenders established in that country could only be justified by presentation by that Member State of evidence of a pressing problem requiring extreme action. |
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| Source Link | Link to Main Source http://curia.europa.eu/juris/documents.jsf?num=C-630/17 |
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| Subject Categories | Internal Markets |
| Subject Tags | Consumer Rights | Protection |
| Keywords | CJEU Judgments, Free Movement of Services |
| Countries / Regions | Croatia |
| International Organisations | European Union [EU] |
