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Three European law firm partners walk into a Bar Association. No punchline here, just a fascinating look into how these partners came together on a mission to translate ICC arbitration rules into Hungarian. To mark the publication of the translated rules, one partner each from Bittera, Kohlrusz & Toth; LFB Laszlo Fekete Bagamery; and Jeantet – Avocats, brainstormed and co-organised a half-day arbitration conference at the headquarters of the Budapest and Hungarian Bar Associations in Budapest.

Entering into force on February 19, 2021, the EU Recovery and Resilience Facility aimed, according to the European Commission, “to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient, and better prepared for the challenges and opportunities of the green and digital transitions.” CEE Legal Matters spoke with lawyers from Bulgaria, Greece, Hungary, Latvia, Poland, and Romania to learn what each country focused on, with its Recovery and Resilience Plan (RRP), and what difficulties lie ahead, now that these plans have been submitted to the EC.

Oppenheim has announced the leadership of the firm will be handed over to its three newly-appointed board members – Jozsef Bulcsu Fenyvesi, Aron Laszlo, and Istvan Szatmary – with Fenyvesi and Laszlo to hold non-executive roles and Szatmary to take over the role of Managing Partner on July 1, 2022.

Facial recognition system is considered an artificial intelligence solution empowered by a camera system, which can identify persons viewed based on image data stored in a related data base. Such systems have already been implemented around the globe in many countries and generally faced severe criticism, especially in Western democracies. Naturally, facial recognition systems have the capability of helping to prevent terrorist attacks and similar severe crimes an detect suspects and other persons of interest. In practice, however, such systems often provide inaccurate or biased results.

In 2019, two EU directives were adopted which must be transposed into Hungarian labour law within a short deadline. In order to comply with EU Directive 2019/1152 on transparent and predictable working conditions and EU Directive 2019/1158 on work-life balance for parents and carers, the modifications of the Labour Code should be adopted by the beginning of August 2022. According to the current information, no substantive work has been started by the Hungarian legislator to modify the Labour Code in order to ensure the compliance with the provisions of the EU Directives.

Good news for the consumers, but extra work for businesses. From the end of May, shops and webshops are no longer able to round up their discounts by inflating their prices for a short period before the sale. From now on, when announcing discounts, they always have to indicate the previous price of the products, which can only be the lowest price within at least 30 days before the price cut.

Once upon a time, two eminent Hungarian scientists made a mathematical breakthrough. They developed the first convex, homogeneous, mono-monostatic object, which they named the "Gomboc" after the famous Hungarian folk character. The Gomboc always returns to its single stable equilibrium point no matter how you put it down, without using any weights. The Gomboc also has one unstable equilibrium. It is possible to balance the body in this position, but the slightest disturbance makes it fall.

At the beginning of the year, several legislative changes came into force that affect both our daily lives and general administration procedures. For example, when purchasing movables or digital goods, the implied warranty period has increased from 6 months to one year. Besides, the concept of residence and place of residence has also changed, and thanks to video-assisted procedures, we will soon no longer have to visit government offices in person. The temporary rules on remote work, though not as of January, will be laid down in legislation in an act upon the termination of the state of emergency.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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