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KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank

KRS Successfully Represents Liquidator of Buda-Cash Against Saxo Bank

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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

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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