Kúria civilian college president: Courts unlikely to resolve fx loan issue

Issues

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.

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