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...

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.

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.

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