Court grants Quaestor unit temporary moratorium

Deals

The Budapest Municipal Court of Appeals granted Quaestor Financial Hrurira a temporary moratorium on payments on March 31, Hungarian news agency MTI said today based on an announcement in the official company gazette Cégközlöny.

The National Bank of Hungary suspended Quaestor’s operating license on March 6 due to irregularities, and the brokerage is currently under investigation on suspicion of fraud, with CEO Csaba Tarsoly being held in pre-trial detention. Quaestor allegedly issued about HUF 150 bln in unsanctioned, and apparently unbacked, bonds prior to its insolvency.

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