In the event of financing constructions, it may often arise that foreign parent companies do not wish to give a guarantee for the debts of their indebted subsidiaries, but are willing to issue a so-called comfort letter (letter of endorsement, statement of confirmation). However, the legal institution of the comfort letter is not included in the Civil Code, so the question arises whether the obligation contained therein is enforceable at all under the Hungarian law or not. Dr. Andrea Égertz, expert of our Law Firm published an analysis of the issue can be read in PDF format by clicking here:
Capital Services
A full-day conference on employment was organised by HR Portal and KRS Attorneys-at-Law on 24 May 2016 at the Glass Hall of MÜPA (Palace of Arts) in Budapest. The most leading experts in all areas of employment made presentations and also answered to the questions of the audience.