NEWS
Whistleblower Directive: time to prepare
Under EU Directive 2019/1937 on the protection of persons who report breaches of EU law, a whistleblower protection system will be mandatory for companies with 250 or more employees in the first phase. The deadline for transposition of the directive expires on 17...
Capital structure after COVID – let’s take stock!
Many market players have been hit hard by the pandemic. Some of them got a smaller slice of the declining pie than expected, while others tried to prepare for the post-COVID period with investments and developments. Whatever the decision of the company, like a good...
Start-up funding to get a kick with the EU’s crowdfunding regulation
A unified European regulation on crowdfunding will enter into force on the 10th of November: an EU regulation will allow a crowdfunding platform already licensed in one country to operate in any other Member State. The Hungarian legislator has recently harmonised...
Unfair terms in insurance contracts
Recently, the Public Prosecutor's Office won a case against a large insurance company at the court. The court, in line with the prosecutor's action, found that several clauses of the general terms and conditions applied by the insurance company were unfair and...
Delegation of the right to co-sign
In a case-law decision of 15 February 2021, the Hungarian Supreme Court dealt with the power of representation delegated by a person authorised to represent the company jointly. The case-law decision explained that, as a general rule, in case of co-signing, a contract...
Contents of the declaration of the pre-emptor and the procedure of the Land Registry
In a recent decision, the Supreme Court ruled on whether the Land Registry shall register the ownership of the pre-emptor if he does not accept the seller's offer in its entirety or whether the application for registration should be rejected in such cases. In the...
Reorganisation: a new procedure for rescuing companies in need
A recent emergency legislation of the Hungarian Government has made it possible for companies facing imminent insolvency to initiate reorganisation procedures until 31 December, 2022 in which they may agree with their creditors on rescheduling their debts even by...
Quo Vadis home office?
The pandemic has forced employers and employees to be flexible in terms of how and where work should be performed. In some professions, home office has proven to be efficient, in others it has reduced efficiency and performance indicators. At companies where recent...
Data protection fines for unnecessary data processing
Recently, the Hungarian Data Protection Office (NAIH) imposed fines in two major cases. Both could have been avoided with care and compliance with data protection rules. In the first case, a credit institution not named in the decision, for the purpose of evaluating...
Do we need to prove the receipt of the invoice sent by email?
The Metropolitan Court of Appeal terminated the liquidation proceedings against a debtor company because the creditor initiating the liquidation did not certify that the invoice sent via e-mail had been received by the debtor. According to the court decision, the...