22
Sat, Feb
64 New Articles

KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank

KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

KRS Kovacs Reti Szegheo has successfully represented the liquidator of Buda-Cash against Saxo Bank in the Metropolitan Regional Court in Hungary, after the Danish bank blocked Buda-Cash's customers' money. During the procedure, Saxo Bank was advised by Oppenheim, Budapest. 

According to the court's decision, Saxo Bank is obliged to pay the applicant — the Buda-Cash liquidator — HUF 1.17 billion and EUR 2.54 million, with defaults and interest, and it must also return Buda-Cash' securities.

According to the decision, Buda-Cash has won 79% and Saxo Bank 21%, and the costs of the trial must be shared in this proportion. The court's decision is not final and may be appealed within 15 days. 

KRS's team included Managing Partner Attila Kovacs and Attorney Attila Penz. 

Oppenheim's team included Partners Tibor Kiss and Zoltan Mucsanyi, working with Attorneys Agnes Szaz and Istvan Gass. 

 

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. This positions us to help clients with their legal needs around the world.

With more than 60 lawyers, including 14 partners, and a staff of over 140, DLA Piper Hungary is one of the largest international law firms operating in Hungary. What makes us stand out is that we offer not only legal services but also tax and business advisory support in a fully integrated manner. We maximize synergies between legal, tax, and business advisory services to offer a unique service for our clients, particularly in regulated industries such as energy, infrastructure, life sciences, banking, and telecommunications.

We are a true full-service firm, providing our private and public sector clients with advice on all aspects of their business. This includes transaction-related advice, people and employment, commercial dealings, litigation, information technology, media and communications, intellectual property, insurance, tax, real estate, and restructuring plans.

DLA Piper Hungary has received numerous professional awards and is consistently ranked among the top law firms in Hungary by international rankings. We are ranked #1 by Mergermarket among the law firms active in Hungary based on the volume of M&A deals handled between 2005 and 2024.

Firm's website.

Our Latest Issue