When, why and how can you start liquidation procedure
against your non-paying customer in Hungary? How long can you
register your claim? What are the chances that you get your money
in liquidation? We summarized the 6 must-knows of liquidation
procedures in Hungary in this article.
What it is for?
The goal of the liquidation procedure (or often called as
insolvency procedure) is to put out of business insolvent business
actors, by distributing their assets among creditors and by
terminating them in a regulated manner.
In practice, you will start liquidation procedure against your
debtor to put him under pressure, so that he pays the money he owes
you, to avoid being terminated on grounds of insolveny.
