BOYANOV & Co. advised a large Bulgarian bank on Class Action re Invalid Clauses in Loan Agreements and General Terms
The Bulgarian National Association “Active Consumers” lodged a class action against a big Bulgarian bank which engaged BOYANOV & Co. to defend it in that case where it was claimed that the collective interest of a wide and unclear circle of consumers had been harmed by certain clauses of standard loan agreements and by several clauses of the general terms of such loan agreements of the Bank. After the Bank’s response to the statement of claim was filed the judge agreed with the objections therein that there existed a number of admissibility issues and as a result the proceedings were terminated by a final court ruling. BOYANOV & Co.’s team on the deal was led by Kina Chuturkova, Partner.
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