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Buda-Cash, DRB managers could face lawsuits

Analysis

Due to recent changes to the Hungarian Civil Code, the managers of scandal-ridden brokerage Buda-Cash and DRB bank group could be sued by tens of thousands of clients, Hungarian daily Népszabadság reported today.

Managers of financial institutions who cause damages to clients because of bad decisions may now be held accountable, lawyer Gábor Magyar told the daily. He added that he had already been approached by 200 potential claimants affected by the scandal at Buda-Cash and DRB bank group. According to the lawyer the first suits could be filed within a few weeks.

The lawyer believes it would be impractical to file a single suit involving all claimants, considering their varying interests.

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