Former brokerage head ordered to pay HUF 11.2 bn in preliminary ruling

The Budapest Metropolitan Court has ordered Csaba Tarsoly, the former head of the scandal-hit brokerage Quaestor, to pay compensation of 11.2 billion forints (EUR 33.4m) in a non-final ruling, the company which is currently under liquidation said on Tuesday. This represents the first ruling in the case involving Quaestor -- which left its clients short of money invested with the brokerage -- establishing Tarsoly's responsibility as the company's head, the statement said. The court ruled that Tarsoly had failed to keep creditors' interests in mind while carrying out his management tasks, and this prevented the payment of at least 11.2 billion forints of creditors' claims. The court ordered him to pay this amount as compensation.