The Hungarian Ministry of Justice acknowledged the recent criticism aimed at the difficulties regarding the enforcement of monetary claims in the country and plans to amend the relevant laws to make creditors' lives easier.

There has been a longstanding need in Hungary for a legal instrument to rescue distressed companies. The only legal solution so far for such companies was the unpopular and inflexible bankruptcy...

The Government of Hungary has proposed an amendment to Act XLIX of 1991 on bankruptcy and liquidation proceedings (Insolvency Act) aiming to modernise the procedural rules of insolvency...

We would like to inform you about the latest practical changes regarding the implementation of the Restructuring Act, which came into force on January 1, 2024.

We summarized the 6 must-knows of liquidation procedures in Hungary in this article.

Due to the transposition of Directive (EU) 2019/1023 through the Restructuring Act, which entered into force on 1 July 2022, a new preventive restructuring framework under Hungarian law is now applicable.

Wir möchten Sie hiermit über die neuesten praktischen Änderungen im Zusammenhang mit der Umsetzung des Gesetzes über die Umstrukturierung informieren, die am 1. Januar 2024 in Kraft traten.

Under Hungarian law, the liquidation of a company aims at the dissolution of an insolvent company with no legal successor.

In this article, we address the issue of whether a claim reported by a creditor during winding-up of a Hungarian company needs to be reported to the liquidator after the winding-up has turned into liquidation, or whether such a claim automatically qualifies as duly reported during liquidation and must, therefore, be registered by the liquidator.

You should not start liquidation because you want to destruct the debtor financially.

While the securitization market in Europe continues to flourish, its usefulness in Hungary has yet to be fully appreciated. At first glance, the foundation and legal framework appears to be in place, however for a number of reasons, the market is still in its pre-infancy. From a Hungarian law approach it is useful to first look at the issues which are relevant in all markets and then to focus on the specific market-driven obstacles.

In this article, we provide a brief overview of the some of the most important new rules applicable to Hungarian liquidation proceedings after 1 September 2009.

Irodánk jogi képviseletet és jogi tanácsadást vállal fizetésképtelenségi ügyekkel összefüggésben az egyes ügyletek megkötését, projektek lebonyolítását megelőzően az esetlegesen felmerülő kockázatok...

Eine Insolvenz kommt selten unvorhersehbar, aber in Ungarn wird es von vielen Gesellschaftern und Geschäftsführer gehofft „davonzukommen", ...

As a result of Hungary's accession to the European Union on May 1 2004, certain amendments were made to Hungarian law on the basis of the EU Financial Collateral Directive (2002/47/EC). In particular, creditor protection amendments relevant to the enforcement of financial collateral (known as 'security deposits' in Hungarian legal terminology) were introduced to the Act on Bankruptcy Proceedings, Liquidation Proceedings and Members' Voluntary Dissolution (49/1991) and to the Hung

Although, liquidation is one of the most powerful debt collection tools in Hungary for recovering solid claims, creditors often make mistakes that give rise to unfavourable court decision, declining liquidation request ...

Under Hungarian law, bankruptcy is a procedure during which the debtor is granted a moratorium with a view to increasing the chance of a settlement agreement and during which the debtor attempts to reach a settlement with the creditors

Although, liquidation is one of the most powerful debt collection tools in Hungary for recovering solid claims, creditors often make mistakes that give rise to unfavourable court decision, declining liquidation request ...

In this article, we provide a brief overview of some of the practical issues concerning the rules applicable to Hungarian liquidation.

The Directive 2019/1023 on Restructuring and Insolvency represents a fundamentally new era for restructuring measures outside of insolvency.