Court rules in favor of EUR 80 mln suit against OTP
Photo by Jessica Fejos
Courts have dismissed a suit brought against OTP Bank in Montenegro seeking damages of €80 mln, the lender said yesterday, Hungarian news agency MTI reported.
(Photo: Jessica Fejos)
The decision of the courts is final and binding, OTP Bank said. OTP announced in September 2013 that the Montenegrin company Doo Vektra Jakic was suing it for damages amounting to €80 mln. OTP Bank and its Montenegrin unit Crnogorska komercijalna banka lent the woodworking company €53 mln for developments in 2007, MTI reported earlier. The company is now under liquidation.
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.