Constitutional Court To Continue Hearing Contract Defense Case Referrals Soon
- 15 Oct 2014 9:00 AM
Hungary’s Constitutional Court started hearing cases on Tuesday on unilateral changes to loan contracts referred by lower courts, but took no decision on the matter, Constitutional Court’s general secretary, Botond Bitskey, said. The court will continue discussing the cases soon, he said. The Constitutional Court has 90 days to pass a decision in the cases, that is, it has to arrive to a decision in the first half of December.
Including a decision taken by the Budapest Municipal Court of Appeals on Tuesday, five cases were referred to the Constitutional Court to clarify whether the law on refunds due from banks to borrowers violates the principle that legislation cannot be applied retroactively.
The former four cases -- three firstinstance court decisions and one appeals court decision -- had been merged into a single procedure. Dozens of lenders have defended such changes to contracts in court recently to avoid paying refunds to affected retail clients under borrowers’ relief legislation approved in the summer.
On October 2, Justice Minister László Trócsányi said that the appeals cases were expected to be completed by mid-November.
Source www.hungarymatters.hu
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