Aequo wins a case for ProCredit Bank

Aequo has successfully acted for ProCredit Bank in a precedent-setting dispute over a loan commitment.

The Supreme Court decided in favour of the bank upholding the judgment of the Court of Appeals by which the claim to compel the bank to provide the loan on the basis of a duly made loan agreement had been dismissed.

Dismissing the claim, the courts upheld the arguments of the counsel for the bank, which stated that the bank may refuse to provide a loan despite a duly made loan agreement if the bank’s client fails to complete the client identification and verification procedures.