The economic council of the Supreme Court has ruled that the Hungarian state is not responsible for deposits in savings banks placed before 1952. In the suit filed by a citizen in Budapest there emerged the question what happened to deposits in the nationalized banks. The plaintiff’s father placed five thousand dollars at 4 pc interest in the Hungarian-Italian Bank in the 1930-es.
He turned first to the Ministry of Finance, then to the court referring to the fact that the liquidation process of the bank was started in 1947 but it was never closed down and the liquidation of the non-existent bank became legal only in 2003. The court of first instance had ruled favourably as the law prescribes the responsibility of the state for deposits placed before June 30, 1993 – after this date deposits have been insured by a common insurance fund.
Translated by Péter Szentmihályi Szabó
origo.hu
Ezen múlt, hogy nem Erdő Péter lett az új pápa, hanem Prevost bíboros
