When two do the same, it is not the same. This old saying is true especially when comparing legal regulations in different countries. Businesses that are present in various jurisdictions sometimes tend to expect the same, when, at first glance, the regulation seems to be similar.… Continue Reading
If there is a holy book for finance lawyers, at least on this side of the Atlantic Ocean, it would be the Loan Market Association (LMA) standard form. Aimed to improve liquidity and efficiency in the syndicated loan markets in EMEA, the recommended standard forms developed by the LMA are here to stay. Although intended … Continue Reading
On 8 March 2018, the European Commission (EC) published its long-awaited new FinTech Action Plan. The EC understands FinTech to be technology-enabled innovation in financial services, and the strategy covers developments related to new technologies which are changing the financial industry and the way consumers and firms access services. At the same time, the action … Continue Reading
One of the greatest conceptual changes and innovations of the currently effective new Civil Code (Act V of 2013 on the Civil Code) was the permissive regulation of the corporate rules, which is more flexible than the former binding approach. Members and founders of a legal entity can now – in the deed of association … Continue Reading
As of 1 January 2018, Hungary’s new communication platform is now in use. It is a concept similar to the electronic communication platform that has been widely available to private individuals for some time. The purpose of both platforms is to enable users to communicate efficiently with the central and local governments online. While private individuals … Continue Reading
As of June 2017, the business registers of all EU Member States are now interconnected. The system – called BRIS (Business Registers Interconnection System) – is a joint effort of the EU governments and the European Commission. According to the information provided in the European e-Justice portal, which provides access to the BRIS to individual … Continue Reading
The commentators will certainly qualify the following court judgments as landmark rulings since by these judgments the courts shed light on crucial and highly controversial aspects of competition law.… Continue Reading
The legal rules of real estate acquisition in Hungary differ dependent on whether the acquisition is for arable or non-arable land (residential and commercial properties), by Hungarian residents or non-residents and whether by natural or legal entities. Such diversity in the regulation is due to the fact that real estate is viewed as limited in … Continue Reading
The Hungarian Parliament on November 22, 2016 adopted the new Hungarian Code on Civil Proceedings (New Code) which comes into force on January 1, 2018. The New Code is a huge challenge for the entire Hungarian legal community since its application requires a different approach from what has so far been customary for both judges … Continue Reading
There are several standard legal entities through which a person may do business in Hungary. The most common and popular ones are (i) a limited liability company and (ii) a joint stock company. The most common legal entity in Hungary is a limited liability company, mainly due to lower administrative burdens. Joint stock companies are … Continue Reading
