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Hungary
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
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.
SZECSKAY - Attorneys at Law
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.
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
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 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.
SZECSKAY - Attorneys at Law
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.
SZECSKAY - Attorneys at Law
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
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