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September 30, 2024Athens Journal of Law

Hungarian Model of the Restructuring Process - National Report

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Authors

NSNoémi Suri

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Implication

Legal analysis demonstrates procedural frameworks for pre-insolvency restructuring in Hungarian commercial entities, highlighting alignment with European insolvency directives.

Key Points

  • Hungarian Act LXIV of 2021 establishes a preventative restructuring plan mechanism for viable debtors, mitigating financial distress before formal bankruptcy proceedings commence.
  • Promulgated on 3 June 2021 and effective 1 July 2022, the framework assigns exclusive jurisdiction for the non-contentious court procedure to the Metropolitan Court of Budapest.
  • National legal review evaluates transposition of European insolvency procedures, clarifying the likelihood of insolvency standard required to initiate preventative reorganisation.

Cite This Study

Noémi Suri (2024) studied this question.

synapsesocial.com/papers/68e56f6bb6db64358750fb51https://doi.org/10.30958/ajl.10-4-10
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Also Consider

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  1. 1Financial Restructuring in Turkey: Drawing Lessons from the EU2026
  2. 2International Insolvency Law and Corporate Groups2026
  3. 3The New Luxembourg Insolvency and Restructuring Law in Light of the Transposition of the Directive (EU) 2019/10232024 · 1 citations
  4. 4The new German “Stabilisation and Restructuring Framework for Businesses”2021 · 1 citations
  5. 5Optionality and EU Harmonization of Restructuring and Insolvency Law: The Case of the Preventive Restructuring Directive and Priority Rules2025 · 1 citations