Abstract

In the light of the banking law processing information subject to bank secrecy and concerning the debtor whose liability has been time-barred is permissible. There are, however, concerns with regard to the purpose of the time limitation, which is the elimination of legal uncertainties. It seems that legally unlimited possibility to process information on time-barred liabilities leads to some kind of stigmatization of the debtor, the result of which may be opposed to the original purpose of time limitation.

So far, also in the case of economic information limitation of liability has not not affected the contents of the data in the register kept by the bureau of economic information. However, the amendment coming into effect as of 13 November 2017 introduces the possibility for the debtor to make a plea that the liability the processed information refers to has been time-barred.