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Practical Issues Concerning Hungarian Liquidation Rules: Delivery Of The Creditor's Payment Notice To The Debtor
In this article, we provide a brief overview of some of the practical issues concerning the rules applicable to Hungarian liquidation.
17 May 2011
Changes In Hungarian Bankruptcy Rules
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
15 Oct 2009
Liquidation Proceedings In Hungary
Under Hungarian law, the liquidation of a company aims at the dissolution of an insolvent company with no legal successor.
8 Jul 2008
Report Of Claim During Liquidation Proceeding
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.
27 Jun 2008
The Public Takeover Bid – Assessment And Risks
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.
23 Mar 2007
Securitization - Hungarian Prospects
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.
9 Mar 2005
New Rules on Financial Collateral Arrangements
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
1 Mar 2005
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