Appeals court rejects CIB, FHB contract defense
The Budapest Municipal Court of Appeals yesterday upheld two first-instance rulings rejecting a contract defense by both CIB Leasing and FHB Commercial Bank.
The appeals court also rejected FHB Commercial Bankʼs request to initiate a procedure with the European Court of Justice.
Under borrowersʼ relief legislation approved last year, lenders must refund clients for unilateral changes to contracts if they cannot successfully defend the practice in court.
A number of lenders earlier defended such changes to foreign currency-denominated retail loan contracts, but none enjoyed a ruling fully in their favor.
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