The Hungarian National Bank announced that as of autumn 2014, Hungary wishes to follow the approach taken by many other countries by creating a "bad bank".

Finally, a guiding decision which is favourable for commercial banks has been passed by the Supreme Court in Hungary ("Curia").

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.

The planned new Hungarian Civil Code is expected to bring significant changes to the Hungarian collateral system. The changes will hopefully eliminate certain deficiencies in the current legislation pertaining to the maximum sum mortgage, one of the more popular collateral forms used in financing transactions.

From 15 March 2014, Hun­gar­ian law will recog­nise the con­cept of trust, and the prob­lems with secur­ing syn­di­cated loans seem to be solved.

According to the rules of the new Civil Code, from March 15, 2014 a prohibition of alienation and encumbrance can be established not only when the object in question is transferred.

The business decision to make a public takeover bid depends on the assessment of a number of legal, business and financial elements/questions. One of the most peculiar questions remains as to how to gain insider information on the target lawfully, before the announcement of the PTB and without causing overreaction on the market with a potentially price-increasing effect.

The Hungarian Parliament recently adopted a significant amendment package to the Civil Code. The main body of the amendment entered into force on 1 October 2016.

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

The government and the Hungarian National Bank (Magyar Nemzeti Bank – MNB) have introduced massive fiscal and monetary measures, growth loan and bond programmes since 2019...