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Securitization & Structured Finance
Hungary
SZECSKAY - Attorneys at Law
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.
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
Beiten Burkhardt Mittle & Wegener
Beiten Burkhardt Mittle & Wegener
Beiten Burkhardt Mittle & Wegener
Beiten Burkhardt Mittle & Wegener
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