How should we write a “Covid clause”?

Péter Gyimesi | 19 November 2020

Apart from all its other nasty effects, the coronavirus has shown how unprepared lawyers are. Not long after the outbreak of the virus, it became all too obvious that the “force majeure” clauses traditionally worded along Anglo-Saxon lines were not worth the paper they were written on: they simply weren’t suitable for addressing the kind of problems that were arising in the new situation. Based on what we’ve learnt over the past few months, however, it’s now a lot clearer how a “Covid-proof” contract should be drawn up.

Under threat of insolvency? The changing responsibilities of the CEO

Péter Gyimesi | 15 April 2020

The impending economic crisis is expected to upset the financial position of many businesses. At these companies, the responsibilities of the company manager will also change: in a near-bankruptcy situation, the manager is obliged to take into account not only the interests of the company but those of the creditors as well. But what is simple on paper is not so straightforward in practice.

Solar panels on the roof, electric car in the garage, devil in the detail

Péter Gyimesi | 24 September 2019

The challenge to mitigate climate change is now present in every industry, and not surprisingly in the construction sector as well. Yet the building regulations adopted for this purpose often give rise to controversy and, in many cases, pose a serious challenge to participants in the domestic real estate market.

Catch 22 for company managers – changes in liability under bankruptcy law

Péter Gyimesi | 26 October 2017

A rule in the bankruptcy act that had been in effect for over 10 years presented an impossible dilemma for the senior officers of companies under threat of insolvency. An amendment of the law that recently took effect, however, resolves the stalemate and opens the possibility for managers to make sound business decisions in crisis situations.

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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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