Court postpones ruling on CIB Bank loan contracts

Issues

The Municipal Court of Budapest on Monday postponed a ruling on loan contracts of CIB Bank until September 30, Hungarian news agency reported today.

The court rejected the bank's request to suspend the case and turn to the Constitutional Court and the European Court of Justice.

The court's decision mirrored a number of others involving lenders' contracts in recent days.

Under borrowers' relief legislation approved in the summer, lenders must prove in court that unilateral changes made to contracts were legal or refund borrowers.

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