The bank’s misconduct in demanding €5,441,000, equivalent to 18,000 Bahar Azadi coins, from the borrower is incomprehensible; however, the official experts appointed by the court confirmed it.
The client, a major company in the pistachio export industry, approached the bank to increase its exports. The bank’s managers suggested a foreign currency loan because the low-interest rate would allow the company to compete in the global market. However, the result of obtaining this foreign currency loan and the bank’s misconduct almost destroyed the company, as the exchange rate had risen so much that even if the company handed over all its assets to the bank, the managers would have to spend their time navigating the corridors of the judiciary instead of participating in the global market.
We entered this case when the bank claimed it was entitled to receive €7,247,000. However, during the litigation process, it became clear that three-quarters of these claims were incorrect. This overreach by the bank was equivalent to 18,000 Bahar Azadi coins (gold coins) or 2,300 Pride cars, and if the company’s managers had not acted in time, the company would undoubtedly have been listed among bankrupt businesses.
