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The Conception for a New Act on Private International Law Has Been Published

The Conception for a New Act on Private International Law Has Been Published

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The conception of a new act on private international law had been submitted to the Hungarian Ministry of Justice for an opinion, and now is in the process of approval by the Hungarian Government.

Currently, Law-decree no. 13 of 1979 on Private International Law determines which country’s law is applicable if a foreign person, object of property or right (foreign component) is involved in a civil law, family or labour law relationship, where the laws of several countries would be applicable, it regulates furthermore the jurisdiction and procedural rules to be followed in a legal dispute containing a foreign component.

Adopting a new act seems to be rational for several reasons: first of all, since the date of the codification of the currently applicable rules (i.e. 1979), the number of legal relationships having private international element has been increased significantly. In addition, the system of external economic relations of Hungary has changed with special regard to Hungary’s of European Union membership for more than 10 years. Furthermore, Hungary is a party to many multilateral conventions containing more modern regulations, which are, however, different from the rules of Hungary’s national law. The purpose of the new act is also to incorporate the improving judicial practice, which then could be an integral part of the renewing Hungarian private law system. 

By Levente Csengery, Partner, KCG Partners Law Firm

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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