Court rejects K&H Bank contract defense in appealable ruling
The Budapest Municipal Court on Friday rejected a contract defense by K&H Bank, Hungarian news agency MTI reported today, adding that the ruling may be appealed.
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.
More than 20 lenders are now defending changes they made to forint loan contracts.
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