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The National Water Resources Protection Map, required for the licensing of domestic and agricultural wells under the amendment to the Water Management Act, has been completed and is available on the website of National Water Directorate (in Hungarian: “Országos Vízügyi Főigazgatóság”). This Protection Map will play a central role in the future licensing of domestic groundwater wells.

In July 2023 the European Court of Justice (ECJ) gave its judgment in case no. C-106-22 (Xella Judgment). The case was referred by the Fővárosi Törvényszék (Budapest High Court, Hungary) for preliminary ruling on the interpretation of Article 65(1)(b) TFEU in conjunction with recitals 4 and 6 of Regulation (EU) 2019/452 (EU FDI Regulation) and Article 4(2) TEU.

The company name is an important asset of the company and also helps the customers when choosing between products or services. Therefore, a new company can only be founded with a name that is sufficiently different from existing companies. What are the legal options for a company if, despite the above, a new company with a very similar name has been registered?

On 5 October 2023, the Government adopted a new decision according to which it will review the current regulation on the entry, residence and employment of third-country nationals in Hungary with the aim of tightening the statutory provisions in this respect.

The Hungarian Labour Code specifies that the dismissal by the employer may be in relation to the behaviour of the employee, but it does not specify exactly what kind of behaviours can be considered. The question arises as to whether the employer can define the possible reasons for termination in its own regulations, if so, can the termination be based solely on the violation of the internal regulations? In our article, we analyse this question based on the recent decision of the Supreme Court.

In recent months, the focus on artificial intelligence shifted to generative pre-trained transformers that rely on large language models, and tools, such as OpenAI’s ChatGPT or Google’s Bard, as they became widely available to the public.

CMS has advised the Hungarian branch of Panattoni on a dual built-to-suit contract to develop two manufacturing facilities in Debrecen and Kecskemet, covering 30,000 square meters, for a German automotive supplier. Noerr reportedly advised the counterparty.

There is no doubt that the coronavirus pandemic was a fundamental shock to the Hungarian economy. Many business operators have tried to reduce their losses by terminating contracts, referring to the coronavirus as force majeure cause and there have now been more court decisions in such cases. A recent one deals with the question whether a long-term framework contract may be terminated because of the impossibility of the performance, invoking the coronavirus as a force majeure.

Szabo Kelemen & Partners Andersen Attorneys Managing Partner Tamas Szabo has stepped down from his Managing Partner position after almost 30 years. Taking Szabo’s place in the firm’s four-person leadership team is Partner Balazs Dominek, who became a Managing Partner at Andersen Legal earlier this year.

Anyone who has seen venture capital investments has probably encountered the expressions “vesting” or “reverse vesting”.

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.

In June 2023 Hungary introduced a new ground for annulling construction arbitration awards, which applies where arbitrators fail to deliberate the opinion of the Performance Certification Expert Body. Will this amendment affect so negatively Hungarian construction arbitrations as believed by many commentators? This article argues that paradoxically, the new law can even strengthen the position of arbitration as alternative dispute resolution method in construction matters.

Lakatos Koves & Partners, working with Clifford Chance’s London office, has advised John Swire & Sons Ltd. on the acquisition of the Swire Coca-Cola USA unit of Hong Kong-based conglomerate Swire Pacific Ltd. for USD 3.9 billion. Slaughter and May advised the sellers.

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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