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.

OTP Redeems EUR 400 mln of Green Securities Banking

OTP Redeems EUR 400 mln of Green Securities

KDNP Pulls out of EPP After Tisza Joins Elections

KDNP Pulls out of EPP After Tisza Joins

Magyar Telekom Announces Share Buyback for June 19-26 Telco

Magyar Telekom Announces Share Buyback for June 19-26

Sziget Festival Returning With a Bang in 2024 In Budapest

Sziget Festival Returning With a Bang in 2024

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.