The amendment to the ESG Act was published in the Hungarian Official Gazette of 17 April 2024 and entered into force in May 2024.

Schoenherr has advised the Schwarzmueller Group on a partnership with the Krone Group. CMS reportedly advised the Krone Group.

Former Counsels Robert Wippel, Desiree Prantl, and Claudia Fochtmann-Tischler and former Senior Associate Daniel Orosz were promoted to Partners at Baker McKenzie as part of the firm's 2024 promotions round.

Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.

According to a statement made by the Association of Hungarian Insurers, from 16 July 2024, the range of vehicles for which compulsory motor vehicle liability insurance must be taken out will be extended.

With a new function on the National Tax and Customs Administration’s (NAV) mobile application (“NAV Mobile”), anyone can check whether their employer has notified the tax authority about their employment in accordance with the employment contract.

The former Noerr Budapest team has joined WTS Legal Hungary, including Zoltan Nadasdy, Viktor Fuzi, and Eszter Hegedus as Partners.

Madrid-based Hungarian lawyer Dora Czegledi has been appointed by Fever to Lead Counsel.

In February 2020 the Hungarian Competition Authority initiated a competition supervisory procedure against Viber Media (operator of the Viber app, seated in Luxembourg) which was likely to infringe the prohibition of unfair commercial practice against consumers. During the procedure, Viber made commitments aiming at the avoidance of penalties. The procedure ended on 16 May 2024 with a decision where the authority, without finding an infringement or lack of infringement, obliged Viber to fulfil its commitments.

With ESG and AI becoming increasingly important for all businesses, the two are set to impact law firms in Hungary as well while the country looks to tackle immigration reforms and enhance consumer protections, according to Schoenherr Hungary Managing Partner Daniel Gera. Against this background, a noticeable trend of FDI sources tilting East is registered.

Inclusion, diversity, and equity (ID&E) are fundamental principles that shape the fabric of modern societies and industries. Within the legal profession, these principles not only reflect our commitment to justice and equality but also drive innovation, foster creativity, and enhance client service. In Central and Eastern Europe (CEE), where the gradual democratization and opening of societies since the 1990s has largely driven greater acceptance of diverse perspectives and communities, it is imperative for lawyers and law firms to take a leading role in advancing ID&E.  In this article, we discuss how investing in inclusion, diversity, and equity can help your firm unleash the full potential of your workforce, foster creativity, and drive sustainable success.

Recently, the Artificial Intelligence Coalition (MIK) informed the relevant committee of the Hungarian Parliament about possible trends in the sector. The MIK’s goal is clear: to put Hungary at the forefront of AI developments and applications in Europe and to become a member of the international AI community. In this process, it will bring together users, market players, academia, professional organisations and public institutions.

Former DLA Piper Senior Associate Mate Hajas has joined Kapolyi as Head of the firm's corporate team.

Former Cerha Hempel Budapest Partner has joined Erdos Partners to head the firm's M&A and corporate practice.

Peter Ruff was appointed to Partner at Pontes Budapest, where he will lead the corporate, M&A, private equity, and venture capital practices of the firm.

Nowadays, climate and environmental issues are increasingly important to many consumers. Being “eco” has become fashionable nowadays. Environmental issues are now recognized as an important market factor that allows a given company to improve its market position.

Linklaters, Freshfields, Bittera, Kohlrusz & Toth, and Herbert Smith Freehills have advised AviAlliance and co-shareholders on the sale of Budapest Airport to a consortium consisting of Hungarian state-owned Corvinus Zrt and French co-investor Vinci Airports for a total purchase price of EUR 3.1 billion and net debt of EUR 1.2 billion. CMS advised Corvinus. Kinstellar, working with Orrick, advised Vinci Airports. Wolf Theiss, working with Latham & Watkins, advised the lenders on financing the transaction.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.