Appeals court annuls loan contract defense ruling
The Budapest Municipal Court of Appeals today annulled a first-instance ruling on the defense of changes to loan contracts and ordered a retrial, Hungarian news agency MTI reported today. The court said the earlier ruling was taken with disregard for some details of the defense by lender UCB Ingatlanhitel and thus fails to comply with the principle of integrity. Under legislation approved in the summer, Hungarian lenders must refund borrowers for making unilateral changes to contracts if they cannot successfully defend the practice in court.
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