Important court decision concerning Banks’ obligations - Calavros Law Firm - Filios - Kloukinas

Important court decision concerning Banks’ obligations

Decision No 2009/2011 of the Athens Multi-Μember Court of First Instance

The plaintiff alleged that due to Bank’s fault, the Bank considered erroneously that the plaintiff had exceeded the credit limit of the open credit line and refused to provide further loans to the plaintiff. The plaintiff further alleged that the behavior of the Bank, as described above, is tortuous and sought restitution of his loss of profit, which constitutes of the profits of the export of goods that did not take place, due to the Bank’s refusal to provide the loans. Despite the existing case law, which regarded Bank’s liability based on culpa in contrahendo, i.e. not in the context of an existing contract, and contrary to the plaintiff’s allegations, the Court dismissed the lawsuit, since it considered that, even if the Plaintiff’s allegations were true, the Bank’s behavior could only be qualified as possible breach of contract, whereby the GCC provisions on tort do not apply.