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Appeals court confirms three first-instance rulings

Issues

The Budapest Municipal Court of Appeals confirmed on Wednesday first-instance rulings rejecting the loan contract defense cases of Erste Lakaslizing, Santander Consumer Finance and Argenta Credit against the state of Hungary.

The rulings are not appealable. The appeals court will discuss the appeals of CIB Lizing and FHB Ingatlanlizing on Thursday.

The lenders are among 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%

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Parliament approves amendment to Competition Act

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