March 17, 2014 / 10:32 AM / 4 years ago

Hungary's top court says lawmakers can modify FX loan contracts retroactively

BUDAPEST, March 17 (Reuters) - Hungary’s constitutional court on Monday ruled that lawmakers could modify terms of contracts retroactively in exceptional cases, in the latest turn of a legal battle over troubled foreign currency loans.

The government last year asked the court to consider whether some conditions of the foreign currency loans were unconstitutional and how existing loan contracts could be modified.

The European Court of Justice is also expected to rule on the issue in the coming months. (Reporting by Krisztina Than and Marton Dunai; Editing by Janet Lawrence)

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