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Appeals court to announce ruling in Unicredit and MKB leasing units cases later

Issues

The Budapest Municipal Appeals Court has postponed the announcement of its rulings on Tuesday in appeals brought by UniCredit Ingatlanlizing until October 21 and by MKB Euroleasing Autohitel until October 22 against rulings rejecting the lenders' defense of unilateral contract changes.

Under legislation approved in the summer, Hungarian banks must refund clients for unilateral modifications of contracts unless they can successfully defend the practice in court.

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