Paul Apáthy and Angus Dick, Herbert Smith Freehills
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Heidi Chui, Stevenson, Wong & Co
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Chul Man Kim, Ki Young Kim, Sun Kyoung Kim, Su Yeon Lee, Jin Seok Choi and Sy Nae Kim, Yulchon LLC
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Debby Sulaiman, Hiswara Bunjamin & Tandjung
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Abhishek Tripathi and Mani Gupta, Sarthak Advocates & Solicitors
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Nuo Ji, Lingqi Wang and Jessica Li, Fangda Partners
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Status as of 3/11 11:40 am CET
Table of content
The Government of Hungary has proposed an amendment to Act XLIX of 1991 on bankruptcy and liquidation proceedings (Insolvency Act) aiming to modernise the procedural rules of insolvency proceedings, for example by introducing communication via email and video conferences.
Technical reliefs
Status as of 09/06 12:00 CET
Table of contents
On 28 May 2020, the Hungarian Government adopted amendments to the laws on company liquidation and forced deletion procedures to cushion the impact of the global coronavirus pandemic on the economy.
1. Changes related to liquidation
Liquidation is initiated when a company is unable to meet its financial obligations and pay off its debt. However, in Hungary, the courts do not apply an actual insolvency test before ordering liquidation but check only whether certain criteria have been met.