As of 1 January 2023, the Labour Code was amended on several points, creating significant new obligations on the employers' side. We summarize the most impactful parts of the amendments, as well as the novel employers' obligations resulting from such amendments.

On 1 January 2023, a new act on the transfer of agricultural farms entered into force. The management of generational issues and the smoothing of generational change in agriculture is essential for the future of the Hungarian agriculture. In addition, the security of Hungary’s food production could be jeopardised if farm succession is not carried out properly or at all, therefore, the new act aims to help the agricultural sector to renew itself generationally.

Lakatos Koves & Partners Head of the Litigation and Dispute Resolution group Balazs Fazakas has been appointed as a Partner with the firm on January 1, 2023. 

Following the elections in April 2022, an independent ministry was created in Hungary to manage, control and regulate construction and investment activities. Shortly after meetings with the representatives of professional organizations were held to provide the basis for further legislative work on the preparation of a new framework law on the institutional, substantive and procedural rules governing public investment.

Former MET Group Senior Legal Counsel Daniel Varga was appointed as the company’s new Green Assets Division Legal Director.

Former Osborne Clarke CEO Simon Beswick has joined Kinstellar’s Board of Directors as a non-executive member.

Schoenherr has advised China's Shanghai Electric Power on its full acquisition of five project companies developing a 200-megawatt PV project in Northeast Hungary from Chint Solar Hungary Projects. Kinstellar advised Chint Solar.

EU energy policy ensures the efficient functioning of the EU energy market and promotes the interconnection of energy networks and the efficient use of energy. It covers all energy sources, from fossil fuels to nuclear and renewables (solar, wind, biomass, geothermal, hydro and tidal).

Crucial amendments to the Hungarian Competition Act entered into force on 1 January 2023, while others will on 1 February 2023. This article briefly describes the most important changes.

On November 28, 2022, CEE Legal Matters reported that Jalsovszky had advised Zambo Vagyonkezelo on the pre-exit restructuring and sale of Tuzallotechnika to Alba Industrial Holding. CEELM reached out to Jalsovszky Partner Agnes Bejo to learn more about the transaction.

On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.

BDK Advokati, Binder Groesswang, and Lakatos Koves & Partners, working with SZA Schilling Zutt & Anschuetz, have advised Turkish investors Baran Celik and Nuvit Gundemir and their families on the sale and purchase agreement with insolvency administrator Jan Markus Plathner to acquire Veritas Group's subsidiaries in Austria, Bosnia and Herzegovina, China, Turkey, and Hungary and three production plants in Germany. 

A number of changes have been recently introduced and will be introduced in the near future in Hungary that fundamentally affect both the most commonly applied legislation, as well as the day-to-day work of lawyers. Below is an overview of the important points of these developments.

Jalsovszky’s Head of Corporate and M&A and former Senior Associate Agnes Bejo has been appointed as a Partner with the firm.

Kinstellar has advised S Immo on the acquisition of six office properties in Budapest valued at EUR 244 million from Immofinanz. Oppenheim advised Immofinanz.

All evidence shows that the legal rules regarding the marketing activity which is carried out by influencers will increasingly be the subject of legal analysis in the coming years. Influencer marketing has grown into a global industry showing significant growth year after year. In comparison, according to the Influencer Marketing Hub, the value of the market was estimated globally only at USD 1.7 billion in 2016 while, by 2022, this figure reached USD 16.4 billion.

Former Kapolyi Law Firm Partner Jozsef Antal joined Grundfos as its Lead Legal Counsel in Hungary. 

BDK Advokati and Lakatos Koves & Partners have advised Integrator on its acquisition of Manpower’s human resources and workforce business in Hungary from the Manpower Group. PwC Legal Hungarian affiliate Reti Varszegi & Partners and Italy's PwC TLS reportedly advised the seller.