Court postpones ruling in OTP contract defense case until February 9

Tourism

The Budapest Municipal Court on Friday postponed a ruling until February 9, in a contract defense case brought by OTP Bank and its mortgage unit. Under borrowers' relief legislation approved last year, lenders must refund clients for unilateral changes to contracts if they cannot successfully defend the practice in court.

A number of lenders previously defended such changes to foreign currency-denominated retail loan contracts, but none enjoyed a ruling fully in their favor.

More than 20 lenders are now defending changes they made to forint loan contracts.

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