Under the regulation of Act XLIX of 1991 on Bankruptcy Proceedings and Liquidation Proceedings (hereinafter referred to as “Cstv.”), due to the insolvency of so called economic operators specified therein, a multitude of ex-officio proceedings initiated by debtors or creditors are ongoing. Since the economic operators, in many cases, perform their economic activity across borders – and the territory of the European Union is mainly worth mentioning here – it is good to know when and which law shall govern during liquidation proceedings, Dr. Andrea Bayer called the attention of  [origo] published an in-depth analysis of the issue. The article can be accessed on the following link: http://www.origo.hu/jog/lakossagi/20160806-szerzodes-felmondasa-felszamo...

The article can be downloaded in PDF format by clicking here:

PDF icon when_is_the_termination_of_liquidation_contract_illegal.pdf

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Capital Services

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