Kúria civilian college president: Courts unlikely to resolve fx loan issue
President György Wellman of the civilian college of Hungary's supreme court, known as the Kúria, said yesterday that the foreign-currency debt is a social problem, and its resolution cannot be expected from the courts.
Wellman was speaking at a leasing conference in Herceghalom, just west of Budapest.
OTP Bank official Szabolcs Korba said during the conference that there are currently 2,500 cases moving through Hungary's court system regarding foreign-currency loans and leasing agreements. Korba said that verdicts in only six of the sixty such cases that have been already been decided have gone against banks and leasing companies.
Korba noted that these banks and leasing companies have submitted appeals to the Kúria with regard to all six of the decisions against them.
Report Points to Increased Risk on Commercial Real Estate Ma...
Chinese President to Visit Budapest in May
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
