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New insolvency regime gives creditors more active role
  • Hungary
  • 29 January 2010

Although Hungary's bankruptcy procedure is well established in legislation, it largely failed when the country was badly hit by the global economic downturn. Recent reforms aim to make bankruptcy proceedings attractive to both debtors and creditors and to provide an alternative to liquidation proceedings. The changes are particularly relevant to banks and credit institutions.

Schoenherr
Schoenherr