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One member – multiple quotas, repeated general meeting in 1 hour – constraints in company law are loosening

Ágnes Bejó | 21 September 2021
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Ágnes Bejó

Since 2014, the “new” Civil Code has allowed companies to deviate from statutory rules in terms of their operation and organization. Up until now, however, it wasn’t clear what was included and what wasn’t: what they could actually deviate from and what they had to adhere to. A new amendment expected to enter into force in January next year will clear the rules up while also easing them off at the same time, thus increasing Hungary’s competitiveness in terms of company law as well.

Don’t be afraid about the reporting

Ágnes Bejó | 10 June 2021
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Ágnes Bejó

It’s been almost a year since the obligation to report certain acquisitions of property by foreigners in Hungary was introduced. Since May last year, foreign persons can only acquire interest of a value exceeding one million EUR in strategic companies subject to reporting and the Ministry’s acknowledgement. Though at first, many had reservations regarding this authorisation obligation, which is based on the Italian practice and is one of the strictest regulations in Europe, by now it has become a concept integrated into the company acquisition market. We have summarised the experiences of the past one year.

Is the confusion surrounding emails finally coming to an end?

Ágnes Bejó | 24 June 2020
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Ágnes Bejó

To this day, the domestic legal system has remained silent on how contracts concluded by email should be treated. However, legislation recently adopted in relation to the COVID-19 pandemic explicitly allows communication via email between a company and its private-individual members. Could this be the first step towards a more comprehensive legal acceptance of emails?

Infected deals

Ágnes Bejó | 29 April 2020
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Ágnes Bejó

Everything that used to be simple and straightforward when concluding or completing M&A transactions poses major challenges to market participants in today’s crisis circumstances. New legal and technical solutions have been designed to overcome these difficulties, some of which are expected to remain with us even after the crisis.

TOP 5 aspects making company establishment easy

Ágnes Bejó | 20 January 2020
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Ágnes Bejó

Do you need a company to be established in Hungary? You will find below some hints and tips that will make your life easier.

Far from impossible... the legal challenges of teleworking

Ágnes Bejó | 11 October 2019
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Ágnes Bejó

While the number of people employed in teleworking or home office is growing rapidly across the world, many firms are not aware of what this entails in legal terms. Yet, those employing workers outside of the office are often faced with unexpected risks. 

There is life after death for companies!

Ágnes Bejó | 30 April 2019
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Ágnes Bejó

If somebody dies unexpectedly, it’s not only a terrible loss for the grieving family and friends, but can also be a tragedy for the company of which the deceased was a member. At such times, the company can find itself unable to make decisions, even if the deceased only held a small share in the business. However, solutions do exist to enable the testator not only to make provisions for family members in the event of his or her death, but also to make sure that the company can continue to make decisions.

Even the general meeting can change its mind

Ágnes Bejó | 15 January 2019
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Ágnes Bejó

The general meeting of a company can now lawfully amend its previously adopted resolutions. This is especially good news for those shareholders who wish to withdraw extra dividend from their subsidiary mid-year.

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Who is this blog addressed to?

The law is constantly in flux. While many people may find this intimidating, for us it’s precisely what makes it so exciting. We’d like to share this attitude with businesspeople and managers, and with those who just have an interest in business law, in the form of a regularly updated blog that discusses the latest tax law and commercial law issues in an accessible style. Feel free to send your questions and suggestions for topics you’d like us to cover to blog@jalsovszky.com.

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