OLG Frankfurt: No forfeiture of right of withdrawal in cases involving consumer loans

According to a ruling of the OLG Frankfurt (Higher Regional Court of Frankfurt), the right to withdraw from a loan is not forfeited even after years have passed since the conclusion of the loan agreement (Az.: 23 U 24/15).

GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London conclude: Banks frequently argue that the right of withdrawal has been forfeited in order to avoid withdrawal from a loan, pointing out that the right w