Photo: Origo

Court dismisses suit claiming state institutions liable in brokerage cases

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 Ertekpapir, Buda-Cash Brokerhaz and Hungaria Ertekpapir sought to establish liability on the part of the state and its institutions.

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.

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