It is not worth delaying the decision to pursue claims – Courts confirm the legitimacy of claims of purchasers of investment certificates of W Investments funds against Alior Bank S.A.

It is not worth delaying the decision to pursue claims – Courts confirm the legitimacy of claims of purchasers of investment certificates of W Investments funds against Alior Bank S.A.

The Law Firm has filed another lawsuit connected with claims of purchasers of investment certificates of W Investments funds. This time, the Client of the Firm, a consumer, demands from Alior Bank S.A. the payment of an amount exceeding half a million PLN.

The circumstances of the purchase of the investment certificates were the same as in the case of other persons represented by the Law Firm – the consumer was recommended a product not adjusted to his needs, without presenting its actual nature, which led to an unauthorised interference in the decision-making process regarding the investment made. What is important, each time the value of funds allocated for the purchase of investment certificates exceeded the equivalent of EUR 40,000. According to the regulations, this was the minimum investment amount for natural persons.

Other disputes initiated by the Law Firm on behalf of its Clients are also pending. Importantly, in addition to the judicial decision already obtained by the Law Firm, about which we informed in the entries of 14 December 2020 and 10 May 2021, there are further judgments favorable to investors. The courts upheld the claims of purchasers of investment certificates of W Investments funds who acquired them through Alior Bank S.A., holding that the damage suffered by them was real and measurable. The argumentation raised by the bank, which boils down to pointing out that the liquidation of the unlucky funds is underway, and investors still have investment certificates, does not convince the courts.

The above judgments confirm that it is not worth delaying the decision on the possible pursuit of claims. Completion of the funds’ liquidation process, already postponed once, is planned for February 2024. However, there is no guarantee that it will actually take place then. Moreover, one should take into account the lengthy time of examination of cases by the courts, including the possibility of the parties appealing against the rulings.  

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