Local court awards Austrian man 13,000 euros
A man who took out franc-denominated loans was awarded a default judgement in a Vienna court.
"The client didn't convert his loan before because of consistent policy comments of the SNB," the lawyer for the plaintiff said. The SNB "consciously spread false information to prevent conversions from francs into euros," he said. He has similar cases outstanding as well.
It's unclear why the SNB didn't contest the case but they are appealing in a regional court.
For me, the SNB has been chronically mis-managed but this would set an awful precedent.
