do-me/EUR-LEX huggingface dataset:
Case C-670/20: Order of the Court (Sixth Chamber) of 6 December 2021 (request for a preliminary ruling from the Ráckevei Járásbíróság — Hungary) — EP, TA, FV, TB v ERSTE Bank Hungary Zrt. (Reference for a preliminary ruling — Article 99 of the Rules of Procedure of the Court of Justice — Consumer protection — Directive 93/13/EEC — Unfair terms in consumer contracts — Loan agreement denominated in a foreign currency — Terms exposing the borrower to a foreign exchange risk — Article 4(2) — Requirements of intelligibility and transparency — Lack of effect of the declaration by the consumer under which he or she is fully aware of the potential risks arising from a loan denominated in a foreign currency — Contractual term that is in plain, intelligible language)
Date: 2021-12-06
Institutions: Court of Justice
Subjects: consumer credit, consumer information, cost of borrowing, financial risk, floating rate, foreign currency, unfair terms of contract








C_2022095EN.01000401.xml










28.2.2022   


EN


Official Journal of the European Union


C 95/4






Order of the Court (Sixth Chamber) of 6 December 2021 (request for a preliminary ruling from the Ráckevei Járásbíróság — Hungary) — EP, TA, FV, TB v ERSTE Bank Hungary Zrt.
(Case C-670/20) (1)

(Reference for a preliminary ruling - Article 99 of the Rules of Procedure of the Court of Justice - Consumer protection - Directive 93/13/EEC - Unfair terms in consumer contracts - Loan agreement denominated in a foreign currency - Terms exposing the borrower to a foreign exchange risk - Article 4(2) - Requirements of intelligibility and transparency - Lack of effect of the declaration by the consumer under which he or she is fully aware of the potential risks arising from a loan denominated in a foreign currency - Contractual term that is in plain, intelligible language)
(2022/C 95/05)
Language of the case: Hungarian

Referring court

Ráckevei Járásbíróság

Parties to the main proceedings


Applicants: EP, TA, FV, TB

Defendant: ERSTE Bank Hungary Zrt.

Operative part of the order

Article 4(2) of Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts must be interpreted as meaning that the requirement of transparency of terms of a loan agreement denominated in a foreign currency, which expose the borrower to a foreign exchange risk, is satisfied only where the seller or supplier has provided him or her with accurate and sufficient information on the foreign exchange risk, to enable an average consumer, who is reasonably well informed and reasonably observant and circumspect to evaluate the risk of potentially significant adverse economic consequences of such terms on his or her financial obligations throughout the term of the agreement. In that regard, the fact that the consumer declares himself or herself to be fully aware of the potential risks arising from entering into that agreement does not, in itself, have any relevance for the purposes of the assessment of whether the seller or supplier has met that requirement of transparency.


(1)  OJ C 98, 22.3.2021.
Prior notification of a concentration (Case M.10341 – PRINCE / FERRO) (Text with EEA relevance) 2021/C 489/03
Date: 2021-12-06
Institutions: Directorate-General for Competition, European Commission
Subjects: agro-industry, building industry, chemical industry, economic concentration, electronics industry, household article, industrial product, merger control, motor vehicle industry, supply








C_2021489EN.01000301.xml










6.12.2021   


EN


Official Journal of the European Union


C 489/3






Prior notification of a concentration
(Case M.10341 – PRINCE / FERRO)
(Text with EEA relevance)
(2021/C 489/03)

1.   
On 26 November 2021, the Commission received notification of a proposed concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


ASP Prince Holdings Inc. (‘Prince’, USA), which is ultimately controlled by affiliated funds managed by American Securities LLC (‘American Securities’),










—


Ferro Corporation (‘Ferro’, USA).




Prince acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Ferro.
The concentration is accomplished by way of acquisition of shares.


2.   
The business activities of the undertakings concerned are:






—


for Prince: manufacturing mineral-based chemicals, minerals and industrial additives and products focussed on the development, manufacture and marketing of specialty products for applications in a variety of industries, including construction, electronics, consumer products, agriculture, automotive, oil & gas and heavy equipment;










—


for Ferro: supply of (i) functional coatings for glass, metal, ceramic and other substrates, and (ii) colour solutions in the form of pigments and colorants, for a broad range of applications and industries, mainly building and construction, automotive, industrial products, as well as household furnishings and appliance.






3.   

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.



4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.10341 – PRINCE / FERRO
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301





Postal address:




European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).