Foreign currency loans – Good Finance Real Estate Leasing claim rejected at first instance

Foreign currency loans – Good Finance Real Estate Leasing claim rejected at first instance

Good Finance Real Estate Leasing’s foreign currency claim against the Hungarian state was rejected by the Metropolitan General Court on Friday at first instance.

According to the decision

bank

An appeal may be lodged against the judgment within 8 days of service. The court also ordered the plaintiff financial institution to pay the defendant a modest litigation fee of HUF 635,000 within 15 days. The Judge-Rapporteur recalled in Friday’s announcement that the court had raised constitutional concerns about the law on foreign currency loans applicable to the lawsuit and therefore referred the matter to the Constitutional Court (Ab) in September.

However, according to Ab, there is no conflict with the Basic Law, and this is how Good Finance Real Estate Leasing’s claim came back.

Financial institution’s claim because certain contractual clauses did not fall 

Financial institution

The court dismissed the plaintiff’s financial institution’s claim because certain contractual clauses did not fall within the scope of the Act or did not comply with the principles set forth in the Act. According to the court, there are concerns about the harmonization of the law on foreign currency loans with EU law. In this connection, it may be necessary to interpret certain provisions of EU law, such as Directive 93/13 / EEC, the judge said.

The quality of the Hungarian state to be subject to this lawsuit

The quality of the Hungarian state to be subject to this lawsuit

He added that, according to the Tribunal, it was necessary to wait for Ab’s decision on the quality of the Hungarian state to be subject to this lawsuit before going to the European Court of Justice. After that, there will be higher-level judicial forums in the position to decide whether to go to the European Court of Justice.

He added that the preliminary ruling procedure could even be initiated by the Court of First Instance. Following the announcement of the decision, the applicant’s legal representative told MTI that he was planning an appeal in the case.

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