Lawsuits In Hungary On Unilateral Contract Changes Adjourned
- 2 Sep 2014 9:00 AM
Lawsuits filed by banks, savings cooperatives and other financial institutions against the state seeking to prove their lending practices have been fair continued with 11 suits at the Municipal Court of Budapest on Monday. All cases have been adjourned to a later date in September.
Altogether 79 such cases have been filed and 20 were heard so far. On July 4 parliament approved a law package on relief for foreign currency loan-holders, which calls on banks to defend in court the fairness of unilateral changes – concerning a rise in the interest rate, fees or other costs – made to contracts.
The process has started with forex loans and will continue with forint denominated ones.
Source www.hungarymatters.hu
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