Sponsored
Article Tools

Hungary: Jurisdiction Affects FX Loans and Banks

Published: March 18, 2014; 18:34 · (Vindobona)

Hungary’s constitutional court will exert influence on FX loans.

The Hungarian Constitutional Court ruled that the conditions of FX loan contracts can be changed with retrospective effect. / Picture: © Flickr

The country’s constitutional court decided that it has the right to modify the terms of foreign currency loans – a contentious jurisdiction. The decision was made after a long struggle of difficult FX loans.

The court ruled that the conditions of FX loan contracts can be changed with retrospective effect. This rule avoids declaring FX loans completely as contrary to the…

This article includes a total of 488 words.

or Log In