What should you consider when choosing a Swiss-franc law firm? Which criteria matter?
The effectiveness and reliability of a Swiss-franc law firm depend on many factors. Below is a list of criteria that are highly important when choosing appropriate legal representation against a bank:
- the lawyer’s/law firm’s experience in handling Swiss-franc cases – the most important factor is experience gained in cases conducted before 2019. Why? Good Swiss-Franc Law Firms had been handling proceedings since 2014. The experience they gained before 2019 resulted in sound, well-developed legal arguments. Their actions helped bring the problem faced by Swiss-franc borrowers to the attention of the media. These were “pioneering” cases. Only such law firms were able to win against the banks. The turning point for Swiss-franc borrowers came in 2019, when the Court of Justice of the European Union issued a judgment questioning the legality of bank agreements.
- documentation of successes in completed Swiss-franc cases – law firms and pseudo-law firms, often operating as limited liability companies and using catchy marketing phrases, boast of numerous wins. Any reputable law firm will, at a client’s request, provide documentation of completed and won cases for inspection. The content of the judgment, its reasoning and the case reference number are not confidential. Only then is it possible to verify whether the cases were actually handled. It often happens that law firms publish several successful cases on their websites, thereby concealing their limited experience in this type of matter. The most experienced law firms can demonstrate more than 300 favorable judgments for borrowers.
- The time in which judgments were obtained – the way a lawyer prepares all the documentation for court has a significant impact on how long the case takes. Although the lawyer does not decide the hearing date, which is set by the court, the completeness of the submitted documentation has a substantial effect on the course of the proceedings. Concise statements of claim, free of formal errors, make the courts’ work much easier, which affects the speed at which judgments are issued. In such cases, it may also be unnecessary to appoint court experts. Experienced law firms can obtain a judgment within 24 months of filing the claim.
- The area in which the law firm specializes – it is best to choose a law firm that specializes ONLY in Swiss-franc cases. This means that the firm has a specialized team well versed in banking law and Swiss-franc agreements.
- opinions about the law firm – although it is very difficult to verify reviews posted online, it is worth looking for other reliable Swiss-franc borrowers who have completed their cases. Unfortunately, Facebook and reviews under Google business listings are full of fake opinions. Such reviews can be purchased or fabricated, all to lure in potential clients.
- the law firm’s legal form – this is not widely known. A law firm cannot be a joint-stock company or a limited liability company. An advocate or legal adviser cannot practice their profession through such a company. The legislation governing the profession permits only a partnership structure, for example one involving several lawyers. If a law firm has taken the legal form of a company, this means that it acts as an intermediary between the lawyer and the client. The cooperation agreement is signed with the company, and several people may handle the case. Often, the client does not meet their lawyer until appearing in the courtroom. Such companies very often employ trainee lawyers or inexperienced advocates. This does not bode well for a positive outcome in court.
- the cost of handling the case – it often happens that pseudo-law firms agree to handle cases free of charge or for a small fee. A borrower who agrees to such an arrangement risks the case not ending with a judgment favorable to them. It should be remembered that such companies do not work for free, despite their attractive promises at the beginning. After the case ends, the company may issue an invoice amounting to a specific percentage of the value in dispute. This may generate further financial problems. That was not the point. Experienced law firms charge between 3% and 7% of the value in dispute for such cases. One should also be wary of law firms with fixed prices for each type of case published on their websites. Such firms do not approach cases individually and reserve and calculate the same amount of working time even for more demanding cases.
It should be remembered that professional law firms always charge an initial fee at the start of the cooperation. Such firms do not participate in price comparison services for Swiss-franc law firms. The best showcase for a law firm is its track record of successful cases.
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