Act Nr. CVII. of 2020 introduces new moratorium regulations effective as of January 1st 2021. The Act institutes a termination prohibition relating to non-payment events of default in case of distressed customers until June 30th 2021 and enables distressed customers to apply for renovation of the debt payment moratorium until June 30th 2021 upon submission of a written request.
Detailed regulation on eligibility for the extended moratorium is to be passed later this year, information will be made available after the relevant government decree has been issued.
Important notice: such moratorium applies only to loans disbursed until March 18th 2020.