TakarékBank appeal postponed till Oct 17

Issues

The Budapest Municipal Court of Appeals postponed until October 17 a ruling on a case involving TakarékBank's defense of changes it made to contracts, Hungarian news agency MTI reported today.

TakarékBank appealed a ruling by the Budapest Municipal Court in September rejecting its defense of the changes.

Under legislation approved in the summer, Hungarian banks must refund clients for unilateral changes to contracts unless they can successfully defend the practice in court.

In the appealable decision in the TakarékBank case, the court said in its justification that the lender's contract conditions failed to comply during certain periods with the principles of objectivity, intelligible wording and transparency.

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