Hungarian Parliament Approves Law On Compensation For Quaestor Victims
- 15 Apr 2015 9:00 AM
Parliament approved a law on setting up a fund to compensate people who suffered losses because of the bankruptcy of brokerage firm Quaestor. In line with the law approved with 185 votes for and 5 against, compensation can be claimed between May 6 and June 5.
The law covers transactions involving bonds issued by Quaestor Financial Hrurira and sold by Quaestor Securities Trading and Investment or associated businesses.
Under the law, the Quaestor Victims Compensation Fund, in conjunction with the Investment Protection Fund (Beva), will hand out up to 30 million forints per client in compensation.
This is significantly higher compensation than clients could realistically expect to receive through individual court cases or in a liquidation procedure, according to the reasoning of the law.
Source www.hungarymatters.hu
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