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Brokerage Scandal: Court Dismisses Suit Claiming State Institutions Liable in Brokerage Cases

MTI-Hungary Today 2021.01.22.

A Budapest court has dismissed a suit by the victims of the so-called brokerage scandals who sought damages from the Hungarian central bank, the state and the State Audit Office.

The former clients of Quaestor Értékpapír, Buda-Cash Brókerház and Hungária Értékpapír sought to establish liability on the part of the state and its institutions.

Former Quaestor Brokerage Head Ordered to Pay HUF 11 billion as Compensation
Former Quaestor Brokerage Head Ordered to Pay HUF 11 billion as Compensation

The Budapest Metropolitan Court has ordered Csaba Tarsoly, the former head of the scandal-hit brokerage Quaestor, to pay compensation of 11.2 billion forints (EUR 33.4m) in a non-final ruling, the company which is currently under liquidation said on Tuesday. This represents the first ruling in the case involving Quaestor — which left its clients short […]Continue reading

At Thursday’s hearing, the court said it rejected the claims since most of the 1,653 people party to the suit had already been compensated in whole or in part by the Claims Settlement Fund. It also ruled that the state and the institutions in question had not been germane to the case in the first place.