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Appeals court confirms first-instance ruling against Sberbank

Issues

The Budapest Municipal Court of Appeals confirmed on Tuesday an earlier court ruling rejecting the loan contract defense case of Sberbank against the state of Hungary, national news agency MTI reported today.

The ruling is not appealable.  The lender was one of many to appeal a first-instance ruling rejecting its defense of unilateral changes made to loan contracts.

Legislation approved in the summer requires lenders to compensate clients for such changes unless they can successfully defend the practice in court.

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IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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