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KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank

KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank


KRS Kovacs Reti Szegheo has successfully represented the liquidator of Buda-Cash against Saxo Bank in the Metropolitan Regional Court in Hungary, after the Danish bank blocked Buda-Cash's customers' money. During the procedure, Saxo Bank was advised by Oppenheim, Budapest. 

According to the court's decision, Saxo Bank is obliged to pay the applicant — the Buda-Cash liquidator — HUF 1.17 billion and EUR 2.54 million, with defaults and interest, and it must also return Buda-Cash' securities.

According to the decision, Buda-Cash has won 79% and Saxo Bank 21%, and the costs of the trial must be shared in this proportion. The court's decision is not final and may be appealed within 15 days. 

KRS's team included Managing Partner Attila Kovacs and Attorney Attila Penz. 

Oppenheim's team included Partners Tibor Kiss and Zoltan Mucsanyi, working with Attorneys Agnes Szaz and Istvan Gass. 


Hungary Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

All News about, and Legal Analysis by, Wolf Theiss can be found here.

Firm's website: http://www.wolftheiss.com/

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