Socialists to submit proposals to compensate Quaestor investors

Budapest, January 12 (MTI) – Socialist MP László Szakács has proposed legislation to compensate former Quaestor investors who lost their savings due to the brokerage’s bankruptcy. The laws would enable liquidation to involve all assets of every member of the failed group.

At a press conference in front of parliament, Szakács said Quaestor had spread assets across more than 40 companies and the “Fidesz elite have been free to take what they want” while investors hadn’t had a single cent returned.

According to unnamed sources, the site for the Duna City Project worth 100 billion forints — reportedly linked to the failed brokerage — was recently sold for 16.5 billion forints, he said, adding that Quaestor investors should be entitled to this property, since it had been bought with their money.

The politician said it was unclear whether this asset had evaded the wind-up procedure due to the “lack of or too much cooperation” between the liquidators.

Source: MTI