Sarhegyi & Partners has advised GrECo Direct Holding AG on its EUR 15 million acquisition of Hungarian insurance broker portal Biztositas.hu from Netrisk.hu, MCI Private Ventures Fund, and AMC Capital IV Net from Luxembourg.
The automotive industry is facing several changes that will shape the future of mobility and production. The car of the future will be electric, connected, and automated, and it will provide benefits for individual consumers and society as a whole. One major message of the recent Automotive in Transition Conference in Budapest was that the automation revolution is bringing challenges, but it is also bringing new opportunities for Hungary to emerge stronger from the transition process.
On 13 February 2019 the European Parliament and Council agreed on how the EU’s copyright rules should be updated aiming to strengthen the position of the journalists and artists vis-á-vis the large online platforms. According to the agreement, the big online platforms should no longer be able to earn money by using journalists’ and artists’ content without paying them. Crucially, start-ups and smaller online platforms (under 10 million global turnover or not more than 5 million unique monthly visitors) will be subject to less strict obligations than well-known large companies like Facebook or YouTube.
In principle, in the course of the land registry procedure, the position of an entry of record in the land registry, and the order of such records is determined by the filing date of the applications or requests. Under the Hungarian Land Registry Act, the order of the entries may be modified on the basis of an authentic instrument signed by all parties, a private document countersigned by an attorney or bar association legal counsel, or on the basis of a private document where the signatures of the parties are attested by a notary public.
In recent years, a principal aim of Hungary’s energy strategy has been to make the country self-sufficient in electric energy. In figures, this means reducing the import to 0% within ten years – as the country’s current dependency on import of approximately 30% is significantly above the EU average. The increasing price of gas and the decreasing price of electricity led to a decrease in the domestic production of natural gas, so the Hungarian energy policy had to turn to alternatives.