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Post by Need Help on Nov 13, 2017 12:32:35 GMT
@kim F: Do you have a link for the Ombudsman in Poland? Thanks
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Post by Trader X on Nov 13, 2017 23:11:18 GMT
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Post by Plaintiff on Nov 14, 2017 9:01:02 GMT
Than you very much! However, I need the formal ruling of the polish ombudsman, not only press articles. Do you know where I could find it?
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Post by Trader X on Nov 14, 2017 11:31:33 GMT
I found it here:
file:///D:/uporabniki-datoteke/osceiv2/Prenosi/istotny_poglad_w_sprawie_sygn_IV_CSK_667_16_SAXO_Bank.pdf
(unfortunatelly not in english)
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Post by Trader X on Nov 14, 2017 11:33:13 GMT
I found it here: file:///D:/uporabniki-datoteke/osceiv2/Prenosi/istotny_poglad_w_sprawie_sygn_IV_CSK_667_16_SAXO_Bank.pdf (unfortunatelly not in english) Sorry, correct link is www.uokik.gov.pl/download.php?plik=20145
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Post by mike on Nov 18, 2017 9:45:59 GMT
please be informed that Saxo lost 3 cases in DK regarding customer status - Eastern High Court in appeal proceedings cancelled previous decision of Maritime and Commercial Court and stated that 3 foreign clients were confirmed as CONSUMERS therefore Saxo cannot sue them in DK... so feel free to sue Saxo in your home countries...
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Post by loopy on Nov 18, 2017 14:15:42 GMT
Mike
Thks for the info.
Do you have a link to the Eastern High Court judgement on appeal? what exactly is the Eastern High Court?
So if the defendants are consumers it means that Saxo cannot sue them in Denmark but only in their home countries where Saxo is likely to lose as has been the case so far. Is that a correct assumption?
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Post by Trader X on Nov 20, 2017 8:57:55 GMT
www.business.dk/finans/saxo-bank-lider-stort-nederlag-i-opgoer-om-trecifret-millionbeloebGoogle translated: "Saxo Bank's attempt to get foreign customers in court in Denmark is wrong. The bank will appeal the verdict of the Østre Landsret. When the Swiss Franc was suddenly rewritten in January 2015 Saxo Bank suffered a loss of 700 million. crowns. Since then, the bank has tried to get some of the amount home from some of the customers. Østre Landsret has now made the bank's attempt to get home money significantly more difficult. It writes Finance Monday . The national court has rejected a verdict from the Maritime and Commercial Court, which would allow the bank to bring foreign court cases home to Denmark. The core argument argued that the foreign customers who had been brought an action were professional speculators who therefore had no right to consumer protection. It gave Saxo Bank an agreement, but that judgment has now been rejected by the Østre Landsret. Whether customers are ordinary consumers or professional speculators is crucial because, at last, they lose their right to bring legal proceedings in their home country. The district court ruled on Friday that the three customers could not be considered professional. 'The fact that an agreement relates to trade in financial products does not preclude (...) the existence of a consumer agreement,' says the judgment in Financ. The district court points out in the judgment that Saxo Bank itself strives to be easily accessible to private individuals. The three clients are an Austrian property development consultant, a Slovak kiosk and a polak with a stockbroker license, which has remained unused since 1994. Customers have been represented by lawyer Henrik Gisløv from Andersen Partners. "These people are not professional stock traders or experienced, driven speculators," says Henrik Gisløv for Finance. Saxo Bank intends to appeal the verdict. "It is a surprising decision and we do not agree with the result," says a written quote from the bank's Legal Director Andreas Janholt to the newspaper. It is very important for Saxo Bank whether the cases can be conducted in Denmark. By the Danish Maritime and Commercial Law, Saxo Bank has historically achieved positive results. Now it seems that the cases should instead be taken abroad.
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Post by Trader X on Dec 7, 2017 21:43:31 GMT
www.juve.de/nachrichten/oesterreich/2016/12/gescheiterte-kursgeschaefte-kreditnehmer-klagen-mit-preslmayr-gegen-die-saxo-bank07/12/2017 Saxo Bank lawsuit: Borrowers classified as consumers by Preslmayr The dispute over claims for damages against the Danish Saxo Bank is getting more and more tense: The Innsbruck Regional Court has decided in a test case that plaintiffs are to be classified as consumers against Saxo Bank. This justifies a jurisdiction in Austria, but the Saxo Bank is likely to appeal against it. At the same time, the bank is acting in Denmark against the Austrian claimants. In the Tyrolean proceedings, 15 borrowers claim damages of more than 1.3 million euros from foreign currency transactions (GZ: 14 Cg 89 / 16g). With these they had commissioned Saxo Bank to hedge real estate loans in Swiss francs against the exchange rate risk. When the Swiss National Bank (SNB) abandoned the minimum exchange rate of 1.20 francs for 1 euro on 15 January 2015, this procedure proved to be unsuitable. In total, the receivables of around 140 Austrian customers amount to around 12 million euros. Claims for damages before other regional courts are foreseeable because the bank did not grant a statute of limitations. The allegations against the Saxo Bank are, among other things, that the money house transactions were conducted at rates that were very unfavorable for the borrowers, and partially changed the exchange rates in retrospect; At times, it also came to technical failures in the trading system of the bank. With the procedure in Denmark against all Austrian claimants, the bank defends itself against the consumer complaints in this country. However, the Appeals Court in Østre Landsret in Copenhagen also classified three other Saxo Bank customers as consumers in November (Ref .: B-1085-17, B-1086-17, B-1275-17). Thus, it overturned first-instance decisions of the Maritime and Commercial Court. Representative Investor Group Preslmayr (Vienna): Clemens Irrgeher, Erland Pirker; Associate: Günther Billes (Associate, all Capital Markets Law) Representative Saxo Bank Eversheds Sutherland (Vienna): Georg Röhsner; Associate: Manuel Boka (both Capital Markets / Conflict Resolution) Regional Court of Innsbruck Dr. Birgit Fink (single judge) Background: The Vienna law firm Preslmayr has been working for the claimants in Austria since February 2015. In Denmark, partner Clemens Irrgeher works with Henrik Gisløv from Andersen Partners. The firm has also been advising a group of Saxo clients since February 2015. Partner Jakob Ravnsbo represents their interests in several proceedings. With Kolding, Copenhagen and Odense, the firm has three Danish locations and one in Hamburg. The Saxo Bank mandates several law firms in the Danish proceedings. In the appeal proceedings in Copenhagen, partner Poul Mogensen of the firm Accura represented the financial institution. In other processes, the law firms Mazanti-Andersen Korsø Jensen and Lundgrens worked for them. (Raphael Arnold) RELATED NEWS 02/12/2016 Go West: Eversheds plans to merge with US law firm Sutherland 01/12/2016 Unsuccessful share dealings: Borrowers complain to Saxo Bank with Preslmayr 27/10/2016 Data protection law: Preslmayr partners found their own law firm This article can be found at: www.juve.de/nachrichten/oesterreich/2017/12/prozess-gegen-saxo-bank-kreditnehmer-mit-preslmayr-als-verbraucher-eingestuft
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Post by Trader X on Dec 20, 2017 21:14:19 GMT
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Post by Nemo on Dec 21, 2017 18:54:28 GMT
Thanks Trader X.
It is looking like Saxo is losing everywhere. Even in their home country of Denmark the previous judgement for them by a crony court was overturned by a higher court.
I wonder what has happened to the cases in Singapore and elsewhere in Asia.
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Post by Kim on Jan 16, 2018 9:31:34 GMT
3 years after the franc crashed in many it is now legally impossible for Saxo Bank to claim any negative balances because of time limitations to file suit. Also in Denmark the statute of limitation is 3 years. Are there still open cases left? Or did Saxo manage to negotiate with every client?
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Post by oida on Jan 17, 2018 10:13:49 GMT
This scumbags indeed filed 2 lawsuits against a company and an austrian citizen on the last day before statue of limitations set in...
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Post by Kim on Jan 22, 2018 18:03:56 GMT
They filed the lawsuits in Denmark? Are there any other lawsuits outside of Denmark that you know of where clients are actively sueing Saxo to get their money back?
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Post by oida on Jan 23, 2018 12:46:58 GMT
They filed the lawsuits in Denmark? Are there any other lawsuits outside of Denmark that you know of where clients are actively sueing Saxo to get their money back? Yes, they filed in Denmark.
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