By Raphaël MORENON
15 July 2025
The lure of historically low interest rates has often led borrowers, whether local authorities, healthcare institutions or entrepreneurs, to turn to financing solutions presented as more advantageous. Structured loans, often referred to as 'toxic' loans, have proved to be formidable arrangements. Built around complex and opaque indexation formulas, they can transform manageable debt into an uncontrollable financial burden. Behind the promise of a low initial cost lie the risks inherent in financial engineering that borrowers are not always aware of. This article sets out to decipher the mechanisms behind these loans, the legal grounds on which their validity can be challenged and the levers available for holding banks liable. The complexity of these banking disputes requires a precise analysis of the lender's obligations and the borrower's rights. Definition and characterisation of structured loans...
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