Being declared insolvent for an unpaid invoice in Hungary seems to be an exaggeration, yet it is a possible outcome in liquidation proceedings. What kind of standard of proof is applied by judges? Does the "beyond a reasonable doubt" standard, known in criminal proceedings applies? This article addresses this issue by analysing a recent decision of the Hungarian Supreme Court.

After the covid-19 pandemic, the EU economy is now being disrupted by the Russia-Ukraine conflict. The rising energy prices and disrupted supply chains have resulted in a further increase in inflation. According to the Hungarian Central Statistics Office, average inflation in Hungary was 24.5% in December 2022, the highest in the European Union. However, inflation of food products was even higher, reaching a staggering 44.8% year-on-year price increase by December 2022. This number is almost three times higher than the EU average.

Cytowski & Partners has advised LaunchHub Ventures and Emerge Education on leading a USD 5 million Series A round for Colossyan. The White Summers European Office in association with Weiszbart & Partners advised Colossyan.

Cerha Hempel Hungary and the SOG Law Firm have been appointed as members of an international legal consortium to screen potential companies and advise on investments by the Emirate of Dubai’s “Operation 300 Billion” program. The consortium also reportedly includes the Boros Arpad Andras law firm in Budapest.

The amended Rules of Proceedings of the Arbitration Court attached to the Hungarian Chamber of Commerce and Industry (hereinafter referred to as “Rules of Proceedings”) entered into force on 31 December 2022, which apply to proceedings commenced on the date of the entry into effect or thereafter.

In the last five years, the number of labour lawsuits in Hungary has dramatically decreased by because of the new Civil Procedure Code. However, due to the recent amendment of the Hungarian Labour Code from January2023, a new category of labour lawsuits may emerge. Do employers face a real risk because the new rules? We analyse this question below.

Crucial amendments to the Hungarian Trademark Act entered into force on 1 January 2023. This Legal Insight briefly describes the most important changes.

In its judgment 2021:504 in Case C 439/19, the Court of Justice of the European Union stated that those national rules that oblige the public bodies registering penalty points to disclose such information to persons requesting access without a specific interest, is contrary to GDPR.

The Hungarian Government is planning to amend its investment promotion regulation, therefore, it published the related documentation on 1 February 2023. The amendments would ensure that aid may be granted for primary agricultural production if the subject of the aid is a research and development project relating to primary agricultural production. In addition, aid for research and development would not only be available for investors that qualify as large enterprises, but also for medium-sized enterprises, in case their combined average statistical headcount reaches 100 persons.

Major changes have come into force under the 2023 tax law amendments in Hungary, which mainly include reliefs, such as the extension of the application of the 5% VAT rate on the sale of new housing on the one hand, but on the other hand, bring restrictions to real property related duties.

Employees are entitled to compensation from their employers for commuting from another town or city. Due to the significant increase in fuel prices, the corresponding thresholds have been doubled by the end of the ‘state of emergency’ in effect (end of June 2023, for now).

The General Data Protection Regulation (‘GDPR’) offers more types of remedies to individuals whose rights were infringed. Can those remedies be exercised parallelly, or shall the person concerned choose among them? The Court of Justice of the European Union (‘CJEU’) provides an answer to this question in its fresh decision, delivered in a Hungarian case.

The European Court of Justice ("ECJ"), in its judgment of 9 February 2023 in Case C-453/21, considered the interpretation of the dismissability of a Data Protection Officer and the performance by the DPO of other duties that may give rise to a conflict of interest. The ECJ ruled that an appointed DPO cannot hold a position within the organisation that would result in him or her determining the purposes and methods of processing personal data. The decision has significant implications for organisations wishing to entrust their DPO with additional tasks that may conflict with the DPO's duties.

Lakatos Koves & Partners has advised ConvergenCE on leasing over 1,000 square meters in the Kalvin Square Office Building to Singapore's Trax. Colaw Kolcsey-Rieden and Partner reportedly advised Trax.

The use of social media content – particularly posts and comments – in advertising has become a prevalent practice in recent years. However, it is crucial for businesses and advertisers to be aware of the potential legal implications associated with such use. Besides copyright and advertising law considerations, it has also become essential to understand the relevant provisions of data protection law when contemplating the usage of social media content in advertising.

Lakatos Koves & Partners has advised Tokyo Stock Exchange-listed Nippon Paper Industries on a HUF 15 billion green field investment in Hungary including the acquisition and development of an industrial site and the construction of a plant in Vacratot, on the outskirts of Budapest.

A growing number of employment and consumer protection-related disputes are on the horizon in Hungary, while revised arbitration rules promise swift and more efficient alternative dispute resolution mechanisms, according to Smartlegal Schmidt & Partners Managing Partner Richard Schmidt.

The entire concept of golden shares can be explained in one sentence: golden shares make the adoption of certain corporate measures as well as decisions on amending certain provisions of the articles of association of a company dependent on the “yes” vote of the holder(s) of the golden shares.