Volksbank Romania went to court against the Romanian Government and the National Authority for Consumer Protection for the damages caused by the Emergency Ordinance 50/2010, according to Mediafax newswire. The bank has assesed initial damages at  around EUR 1 million caused by the enforcement of the ordinance, according to the newswire. The bank is also asking for the cancellation of the Emergency Ordinance 50/2010.

Volksbank is assisted by Romanian law firm Nestor Nestor Diculescu Kingston Petersen (NNDKP). The bank has recently announced it posted a loss of EUR 36 million in Romania last year, the only market where the lender posted a loss.

More articles about the Emergency Ordinance 50/2010, here.

editor@romania-insider.com