Supreme Court: financial institutions cannot demand last will and testament

The Supreme Court has ruled that it is unethical for financial institutions to qualify loans with the writing of a last will and testament. The court found that it was both immoral and illegal for creditors to demand that property be left to them in the event of a debtor’s death. The court spokesman said that the cases usually involve elderly people who need loans for health care, home care or other reasons and leave their property as collateral. Moreover, the court determined that banks have other options for ensuring the repayment of such loans. The Czech Banking Association says it has not noted any such conditions and notes that the case in question goes back to 1992.