Regarding the new General Data Protection Regulation of the European Union (GDPR) apart from the professional and systematic challenges of the domestic interceptions, the were dominated by new fines. It is well known that the general maximum of the fine will be EUR 20 million, while and it may be 4% of their annual turnover in case this latter amount is higher, although the principles of imposing these fine are further from the centre of attention.
KRS Kovacs Reti Szegheo has successfully represented the liquidator of Buda-Cash against Saxo Bank in the Metropolitan Regional Court in Hungary, after the Danish bank blocked Buda-Cash's customers
Regarding the practice of courts of appeal prior to the entrance into force of Act CXXX of 2016 on the Code of Civil Procedure, on the 1st January of 2018, the chambers of second instance often annulled the decisions of the courts of first instance and ordered them to carry out once more a procedure and render a decision in the end. However, the aforesaid practice often lead to unreasonably dragged on procedures.
According to the decision of the Court of Appeal of Budapest, the debtor cannot make a recognition statement of debts prior to the payment of the sum of the loan.The reason that this case is remarkable is that the credit banks often require one-sided statement of commitment throughout the lending. The question arises, in which are the cases when the aforesaid statements are null and void.
In the last couple of weeks deepfake has become known as the most frightening online practice. In the common language, deepfakes are known as the videos in which – with the help of artificial intelligence and computer learning- some parts of the original content will be overwritten, meaning that in typical cases one person’s face will be replaced by another person.
In a recently rendered decision of the Hungarian Curia, the chamber was raising the question of the following issue. Namely, if there is any chance, that a right acquired under an agreement, but not registered in Real Estate Register, is prior to a right acquired under an agreement concluded later but registered in the Real Estate Register.
KRS Attorneys at Law was established in 1992.
KRS has provided the legal review of a licensing contract for a complex business administration software of an urban utility company and commented on the multiple legal issues in connection with th
According to the decision recently published of the Curia, the change of the registered seat is a decision regarding the assets of the owner, which can be made by the liquidator rather than the owner of the company under liquidation.
The Curia has decided in a recent decision that while performing bank transfers, the beneficiary is not a customer of the bank performing the payment; therefore the bank has no obligation to identify the customer.
