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Buda-Cash liquidator appeals court decision on asset recovery

Issues

PSFN, the liquidator of failed independent brokerage Buda-Cash Brokerház, is appealing a court decision on an attempt to recover assets of the brokerageʼs clients from Denmarkʼs Saxo Bank, PSFN said on Friday, according to Hungarian news agency MTI. 

The Budapest Municipal Court earlier ruled that it has no legal jurisdiction in the case. 

Business daily Világgazdaság said earlier that PSFN is seeking the recovery of some HUF 12 billion in assets from Saxo Bank.

Buda-Cash Brokerház went under liquidation in March 2015.

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