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.

ADVERTISEMENT

The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.