Appellate court refers loan contract defense case to Constitutional Court

Issues

The Budapest Municipal Court of Appeals on Tuesday referred a loan contract defense case to the Constitutional Court, Hungarian news agency MTI reported today. The appellate court referred a case between Porsche Bank and the state of Hungary.

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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