The Undertaking: Mystery or reality? Andrea Csőke, Nicoleta Mirela Nastasie and Róbert Muzsalyi

The differences between Member States in relation to substantive and procedural rules are commonly a source of difficulties in cross-border proceedings.

Among others the Regulation 2015/848 of the European Parliament and the Council on insolvency proceedings (hereinafter: EIR-R) provides some new legal instruments to limit the possibility of secondary insolvency proceedings. The undertaking (Art. 36) is one of the new features which has not been known before in Continental legal systems.

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When International Investment Arbitration meets Insolvency

Dan Cake S.A is a Portuguese company whose scope of activity is the manufacturing of cakes, cookies, biscuits and toasts. It was incorporated in Portugal in 1979. In 1996 it acquired a capital participation in a Hungarian company that was later renamed Danesita, whose scope was also the manufacturing of cakes, cookies, biscuits and toasts for Eastern European countries.
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EIR Recast: Some tiny interesting details...

Tinteresting details in the old-new (recast) cross-border insolvency Regulation 2015/848. I do not want to deal with the big questions, like hybrid, pre- insolvency proceedings, or the insolvency proceedings of members of a group of companies, I only want to draw your attention to some “tiny” differences between the old and the recast Regulation.
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Article 5 of EIR: More answers and questions

There are very few known cases about the practice of Art 5 of EC Insolvency Regulation (1346/2000). In Hungary there is a case related to Art 5, in which the European Court of Justice (ECJ) has made a preliminary judgment (C-527/10).
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IP Qualifications Profiles January 2011 - Hungary

Appointment The government assigns those who can be selected as liquidators by decree. The government invites applications for the entrance on the list of names of liquidators every year. Liquidations can be conducted by companies that have been entered on the list by application. A liquidator is appointed to conduct the liquidation process and the office-holders name and address have to be announced to the court. The liquidator is entitled to proceed at every court of the country. Qualifications According to regulations (167/1993 (XI.
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IP Qualifications Profiles January 2011 - Hungary

Appointment The government assigns those who can be selected as liquidators by decree. The government invites applications for the entrance on the list of names of liquidators every year. Liquidations can be conducted by companies that have been entered on the list by application. A liquidator is appointed to conduct the liquidation process and the office-holders name and address have to be announced to the court. The liquidator is entitled to proceed at every court of the country. Qualifications According to regulations (167/1993 (XI.
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