▷ OLG Schleswig: Revocation at BMW Bank is still possible after years

27.12.2021 – 10:02

Hahn Attorneys at Law PartG mbB

Hamburg (ots)

For the first time, a German higher regional court ruled that the requirements from the current judgment of the European Court of Justice of September 9, 2021 in the related cases C-33/20, C-155/20 and C-187/20 are to be implemented to the effect that car loan BMW Bank GmbH contracts can be revoked for years after the contract was signed. The plaintiff, represented by HAHN Rechtsanwälte, financed a BMW 520d Touring in 2016. After becoming aware of the possibility of revocation, he exercised his right of revocation vis-à-vis BMW Bank in mid-2020. Since this rejected the declared revocation as ineffective before the court, it came to a legal dispute.

“HAHN Rechtsanwälte is very pleased to have achieved the breakthrough for German consumers”, comments the Hamburg lawyer Christian Rugen from HAHN Rechtsanwälte. “In economic terms, the revocation leads to advantages for the consumer, which are in the order of magnitude between 10 and up to 25% of the vehicle purchase price.”

In support of their judgment of December 23, 2021 – 5 U 140/21 – the Schleswig judges convincingly stated that the information provided in the contract documents of BMW Bank under the heading “Ombudsman procedure” does not meet the legal requirements. In addition, the BMW Bank did not provide information about the default interest rate and the manner in which it was adjusted in the form required by law. With the approval of the appeal, the Higher Regional Court opened the way for confirmation by the Federal Court of Justice.

HAHN Rechtsanwälte is currently offering free checks with regard to the possibility of revocation for car financing from BMW Bank GmbH, Volkswagen Bank GmbH, Santander Consumer Bank AG or, for example, Mercedes-Benz Bank AG. For more information, see https://hahn-rechtsanwaelte.de/widerruf/widerruf-autokredit/.

To the law firm profile:

HAHN Rechtsanwälte PartG mbB is one of the leading nationwide law firms active in banking and capital market law, consumer and insurance law, which exclusively represents the investor and consumer side. The firm’s founder, attorney Peter Hahn, MCL, has been for more than 30 years, his partner, attorney Dr. Petra Brockmann and lawyer Lars Murken-Flato have been working in banking and capital markets law for more than 10 years. All three are specialists in banking and capital markets law. HAHN Rechtsanwälte exclusively represents investors and consumers. Eighteen lawyers currently work for the firm, eight of whom are specialists in banking and capital markets law. HAHN Rechtsanwälte has offices in Hamburg, Bremen, Stuttgart and Munich.

Press contact:

Hahn Attorneys at Law PartG mbB
RA Christian Rugen
Old Steinweg 1
20459 Hamburg
Phone: + 49-40-3615720
Fax: +49-40-361572361
Email: [email protected]

Original content by: Hahn Rechtsanwälte PartG mbB, transmitted by news aktuell


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