A management buyout is a corporate acquisition where a company is bought by the members of its management (CEO, CFO, COO, CHRO, CBDO, CIO, CMO, CAE, CRO etc.). In Hungary, such transactions are typically financed from bank loans, where the steps of the process must be agreed with the financing bank’s lawyers.
Teleworking is an arrangement where an employee regularly works at a place other than the employer’s registered office or other site (i.e. typically at home) and delivers the work product to his or her manager electronically. Temporary or ad hoc work at home does not qualify as teleworking.
Under a long-awaited modification of Hungary’s Act XLIX of 1991 on Bankruptcy and Compulsory Liquidation Procedures (Bankruptcy Act), a larger number of creditors receive priority satisfaction in compulsory liquidation procedures starting from 1 July 2017. The main objective of the modification was to ensure that recipients of assignments and purchase options granted as loan security would have the same rights as other secured creditors, such as chargees, pledgees and mortgagees, and primarily the right to priority satisfaction in compulsory liquidation procedures.
The Court of Justice of the European Union (ECJ) made an important ruling in its judgment in case No. C-266/14 with respect to employees who do not have a fixed or habitual place of work (typically sales representatives, agents or, as in the particular case, technicians). Read more
Our law firm has won a major lawsuit filed by a multinational manufacturing company against a former Managing Director. The judgment adopted by the Hungarian Supreme Court last summer includes rulings on many issues that will serve as precedents in connection with the liability of executive officers for damages. Read more
The amended provisions of the Advertisement Act will come into force on 4 July 2015. The intention of lawmakers and the purpose of the amendment is to eliminate the anomalies in the bonus system, as prior to the Amendment it was common practice that advertisement publishers paid commission to advertising intermediaries (i.e. advertising agencies). Read more
Jókay & Partners are proud to announce that our colleague, Dr. Beatrix Vissy has won the Best Teacher Award under the age of 40 at Eötvös Loránd University. The Students’ Union of ELTE University encourages students to choose their favourite teacher every year. As students’ opinion always reflects reality, it is a huge recognition that Beatrix has won in this category.
The only job fair for lawyers took place on 17-18 March where Jókay and Partners Law Office was introduced to law students. The job fair is designed to help students to learn more about career opportunities and top law offices in Hungary. Read more
SeaFrance was a French public limited company that was indirectly and wholly owned by the SNCF, a French public entity. It operated maritime passenger and freight transport services between Calais and Dover. From 2008, SeaFrance’s financial situation deteriorated due to unfavorable market conditions and internal difficulties. Read more
Starting from 10 January 2015, civil law and commercial judgments adopted in a member state are automatically recognised and enforceable in all members states. Basically, these judgments include all judgments adopted in legal disputes with regard to civil law contracts or non-contractual damage claims. Read more