Global businesses belongs to our everyday life. We enjoy the advantages of our modern world, however, we must never forget its dangers. In this article we draw your attention to those basic points we suggest to check before doing business with a Hungarian company, to avoid losing money. Some of them may seem evident, however, our advices are based on real cases.
Although, liquidation is one of the most powerful debt collection tools in Hungary for recovering solid claims, creditors often make mistakes that give rise to unfavourable court decision, declining liquidation request and directing the claim towards ordinary courts. Given that this means loss of valuable time, we gathered those common mistakes that you should avoid by any means.
There is no worse feeling after a won court case than realizing that your debtor is not going to pay, because it has no assets at all or, even worse, it has been already deleted from the company register. In this short article we provide you with 5 tips to avoid writing-off uncollectible debts in Hungary.
In most jurisdictions starting liquidation or bankruptcy against a non-paying debtor might be the very last step after having exhausted all other less threatening debt recovery methods. Although the result of the liquidation is the total financial destruction of debtor, this is a very popular debt recovery tool in Hungary for those creditors who have solid claim and would like get their money fast. We summarise details in this article.
In this short summary we tell the 5 must–know tips that a creditor should bear in mind before starting collecting debt in Hungary. There are different legal ways available, and by answering these questions you will be able to find the legal way that best matches your interests.
In the first part of this article we shared some useful information about civil and commercial litigation in Hungary, such as how to find the competent courts, what are the main costs of litigation and what are the types of evidences in the procedure. In this part we sum up what kind of judicial remedies are available in Hungary if the decision of the court is not favourable. Besides presenting the situations in which the remedies are available, we summarise the costs and deadline for lodging these complaints.
Civil or commercial disputes often arise, and when they cannot be resolved through negotiation they turn into litigation before courts. In this article we share some useful information about civil and business litigation in Hungary.