07 May 2020

News on the withdrawal from consumer credit agreements – ECJ and BGH lock horns forcing credit institutions into a balancing act

Do credit institutions need to act? The ECJ demands that contracts contain clear information on how the withdrawal period is calculated instead of “cascading references” – German BGH retorts immediately.

Most recently, the ECJ declared in a sensational decision of 26 March 2020 that the German model revocation instructions for consumer credit agreements do not meet the standards required by European law. The BGH contradicted this decision in a direct answer already on 31.03.2020. The current GSK Update analyses the effects of both decisions and examines the question of whether and where there is a need for action for lenders with regard to existing or future consumer credit agreements against this background.


Press contact
Christine Ström
+49 30 203907-7763


GSK Updates
  • 01 September 2020

    GSK Update: Working during the coronavirus pandemic: As an employer, how do I deal with employees returning from holidays?

    Read more
  • 01 September 2020

    GSK Update: Modernisation of the LCIA Rules: A “light-touch” update

    Read more
  • 09 July 2020

    GSK Update: Draft Law Modernising Germany’s Laws on Partnerships under Civil Law

    Read more
Contact person

Dr. Antonius Jonetzki

Local Partner*

+49 40 369703-62


Dr. Timo Bernau


+49 89 288174-662


Philippe Lorenz

Senior Associate

+49 89 288174-662


© GSK Stockmann 2020

* Partner: A partner within the meaning of the partnership company law.
   Local Partner: not a partner within the meaning of the partnership company law.
CO2 Neutral