Mondaq All Regions - Hungary: Finance and Banking
Lakatos, Köves and Partners Law Firm
After a number of years of anticipation, 2016 saw a number of large non-performing loan sales in the Hungarian market.
Schoenherr Attorneys at Law
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.
Schoenherr Attorneys at Law
After the broker scandals of 2015, the government introduced new protective measures this year to restore Hungarian investors' trust in capital markets instruments and investment service providers.
Schoenherr Attorneys at Law
On 13 June 2016 the Hungarian Parliament adopted an amendment to the Civil Code which entered into force two years ago.
Schoenherr Attorneys at Law
Finally, a guiding decision which is favourable for commercial banks has been passed by the Supreme Court in Hungary ("Curia").
Schoenherr Attorneys at Law
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.
Schoenherr Attorneys at Law
The Hungarian National Bank would like to incentivize the country's banks to clean their portfolios, since the banks still hold over HUF 700 billion (approx. EUR 2.25 billion) of non-performing project loans.
Schoenherr Attorneys at Law
The Hungarian Parliament has adopted an amendment to the Hungarian Banking Act (entering into force on 7 July 2015) that provides for the regulation of loan portfolio transfers.
Schoenherr Attorneys at Law
On 9 February 2015, Erste Bank Hungary entered into an agreement with the Hungarian Government and the European Bank for Reconstruction and Development.
Schoenherr Attorneys at Law
Since 2010, the Hungarian government has aimed at the extinction of FX-denominated loans.
Schoenherr Attorneys at Law
In recent years, bank customers in Hungary have initiated numerous litigations claiming that their loan agreements are illegal, invalid, or null and void for a variety of reasons.
Schoenherr Attorneys at Law
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".
Schoenherr Attorneys at Law
The fact that the new Hungarian Civil Code at last recognized the concept of transfer of contractual position was a welcome development.
Schoenherr Attorneys at Law
From 15 March 2014, Hun­gar­ian law will recog­nise the con­cept of trust, and the prob­lems with secur­ing syn­di­cated loans seem to be solved.
Schoenherr Attorneys at Law
The Hungarian Parliament on Tuesday approved legislation that lifts most restrictions for participation in an exchange rate cap scheme for borrowers with foreign currency-denominated loans.
Schoenherr Attorneys at Law
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.
CMS Cameron McKenna LLP
A new tax on financial transactions has been introduced , to take effect from 1 January 2013.
Schoenherr Attorneys at Law
Based on the Hungarian government's proposal, effective as of 27 July 2011, the Parliament passed a new legislation introducing the concept of REIT (Real Estate Investment Trust) in Hungary.
Schoenherr Attorneys at Law
The competence to issue "payment orders" was shifted from the Hungarian courts to the public notaries approximately one year ago.
Schoenherr Attorneys at Law
Unhappy with being labelled the local scapegoats for the effects of the financial crisis, Hungarian banks and other retail financers have adopted a code of conduct to show goodwill towards distressed clients.
Most Popular Recent Articles
Lakatos, Köves and Partners Law Firm
After a number of years of anticipation, 2016 saw a number of large non-performing loan sales in the Hungarian market.
Schoenherr Attorneys at Law
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.
Schoenherr Attorneys at Law
On 13 June 2016 the Hungarian Parliament adopted an amendment to the Civil Code which entered into force two years ago.
Schoenherr Attorneys at Law
The Hungarian National Bank would like to incentivize the country's banks to clean their portfolios, since the banks still hold over HUF 700 billion (approx. EUR 2.25 billion) of non-performing project loans.
Schoenherr Attorneys at Law
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.
Schoenherr Attorneys at Law
Finally, a guiding decision which is favourable for commercial banks has been passed by the Supreme Court in Hungary ("Curia").
Schoenherr Attorneys at Law
After the broker scandals of 2015, the government introduced new protective measures this year to restore Hungarian investors' trust in capital markets instruments and investment service providers.
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