We have been dealing with bank debt settlement and foreign currency securities since 2014. In particular, in foreign currency debt cases, we mainly provide legal representation of the defendant, out-of-court representation in connection with bank reconciliation; if you wish to initiate litigation against a bank, we provide detailed information in the course of a personal consultation, both in terms of experience and legal assessment of the contract.
A very specialised branch of civil litigation is the so-called nullity action or settlement action arising from a foreign currency or foreign currency loan contract. In 2014, the Hungarian court practice was framed by Act XXXVIII of 2014 on the settlement rules and certain other provisions set out in Act XXXVIII of 2014 on the settlement rules and certain other provisions set out in Act XXXVIII of 2014 on the settlement of certain issues related to the decision of the Curia on the law of the Court of Appeal on consumer loan contracts of financial institutions and Act XL of 2014 on the settlement rules and certain other provisions set out in Act XXXVIII of 2014 on the settlement of certain issues related to the decision of the Court of Appeal on consumer loan contracts of financial institutions. Our firm has acted in numerous such proceedings, together with the specialised firms that cooperate with us, in addition to representing our clients in the conciliation procedure with the financial institution concerned, in the possible litigation or out-of-court settlement. Specifically in foreign currency credit cases, we mainly represent the defendant, but in these cases the consumer may wish to bring a lawsuit, so we naturally also represent the plaintiff. We also provide out-of-court representation in relation to bank reconciliation; however, if a prospective client wishes to bring a claim against the bank/collection manager, we will provide detailed advice in a personal consultation, both in terms of experience and the legal assessment of the contract.
The jurisprudence on foreign currency loan contracts has been constantly evolving in recent years (and is still evolving – see the proceedings before the Court of Justice of the European Union C-705/21 or C-520/21). The decisions of the Court of Justice of the European Union directly or indirectly shape Hungarian practice, so our Office is constantly monitoring the latest law-making decisions, so we can represent our clients’ interests in courts anywhere in the country with up-to-date and confident advice.
Knowing the difficult and complex situation of consumers with foreign currency loans, our Office is committed to solving your individual case and working towards a tailor-made solution.
Our main motto is that, although foreign currency loan cases may seem like a model, there is no such thing as a model action and no such thing as a “run-off case”.