Court rejects appeal of KDB Bank contract defense ruling
The Budapest Municipal Court of Appeals today upheld a ruling rejecting a contract defense by KDB Bank.
Under borrowers' relief legislation approved last year, lenders must refund clients for unilateral changes to contracts if they cannot successfully defend the practice in court.
A number of lenders earlier defended such changes to foreign currency-denominated retail loan contracts, but none enjoyed a ruling fully in their favor.
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