2019. június 23. 14:36

Supreme Court Ruling: Knockout Blow to Foreign Currency Debtors

Today's ruling of the Supreme Court aims to strike the knockout blow in foreign currency loan lawsuits, because the board cynically decided that the exchange rate change did not have to be foreseen by any expert or commercial bank, only the debtor.
The decision of the Supreme Court allows for the debtor's contract to be converted to a forint-based loan that the debtor never intended to take out and for which the debtor did not have sufficient income at the time. The ruling of the Supreme Court contradicts previous decisions and statements and European consumer protection law as well as the decisions of the European Court of Justice.
In fact, the Supreme Court’s decision states that a foreign currency debtor in Hungary cannot win in court. The reason is that Orbán has agreed with the banking system that no disadvantages can be faced by the banks and there will be no obstacles in the way of the eviction of hundreds of Hungarian families.
We demand that the execution proceedings be stopped immediately and that the government cancel the pact with the EBRD, stand on the side of Hungarian families and make sure that the accountability of banks be revised.
MSZP – Hungarian Socialist Party
Further information: László Szakács, Vice President of MSZP and Attila Mesterházy, Member of Parliament and József Szabó, Head of the Debtors’ Movement