Hungary on Charges, Mortgages, Indemnities

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.

Finally, a guiding decision which is favourable for commercial banks has been passed by the Supreme Court in Hungary ("Curia").

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.