Hungary: Financial Services

The competence to issue "payment orders" was shifted from the Hungarian courts to the public notaries approximately one year ago.

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.

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

Factoring has emerged as an essential financial solution for businesses in Hungary, offering a fast and flexible way to maintain cash flow and bridge liquidity gaps, especially for those with extended payment terms in sectors like agriculture, manufacturing and logistics...

In europaweiten Export-Import-Geschäften schützenVerkäufer ihre zu verkaufenden Vermögenswerte häufig, indem siedas Eigentum bis zur vollständigen Bezahlung durch den Käufer vorbehalten.

In export-import trade transactions across Europe, sellers commonly protect their assets by retaining the title of ownership until the buyer has paid the full purchase price.