After the bill, passed in 2018 on restrictions of foreign investments, Hungary further limits the domestic investments of the foreigners because of the COVID-19. The new decree extends the scope of the investments to be notified and introduces fines, too. We explain the most important provisions of the decree in this article.
On 11 March 2020, the Hungarian Government declared a state of emergency in Hungary , which is still in force until revocation. In the last two months, nearly 100 government decrees have been adopted in connection with the pandemic, nearly a third of which are economic measures. In our article, without going into the very details, we summarize the most important measures affecting businesses to give economic operators a comprehensive picture of the benefits and reliefs available in different areas.
While COVID-19 has been dominating the headlines of the press, a new act, entered into force on 1st April 2020, fundamentally reforming the role of the judge-made law in Hungary, has received less attention. Why this landmark bill has been passed? To what extent does it mean the import of common law and what will be its effects for litigations? We address these question in this article.
Measures taken due to the corona virus in recent weeks in Hungary affected the enforcement of securities over real estate, as well. The Governmental Decree regarding this matter provides more assistance to the Debtors who got into trouble due to State of Emergency to overcome the difficult period and may affect indirectly the enforcement proceedings started earlier, weakening the chances of creditors to satisfy their secured claims within reasonable time.
In the difficult economic situation triggered by the coronavirus in several European countries the state takes over the payment of certain part of the employees’ salaries. Based on the government decree published on Good Friday, and already modified on 21st April, finally there is a possibility in Hungary as well to request support from the State in case of employment in reduced working time. In this article we summarize the characteristics of the support and the most important eligibility criteria.
The coronavirus and the state of emergency ordered by the Hungarian government to fight this epidemic affects every part of our life. Civil and business litigations are not exceptions either. In our short article we summarize what are the most relevant changes in the ongoing and envisaged court procedures in Hungary.
Although efforts are being made around the world to curb the spread of the epidemic, it can already be seen that entire sectors of the economy have to face a difficult situation, which is also affecting companies ’contracts. For example, many businesses request the reduction of the rent for the premises they lease for business, due to the coronavirus situation. The question arises as to whether there is another option for amendment if the parties fail to reach a mutual agreement.
The coronavirus is already having its unfortunate impacts in the whole world and there is almost no sector which has not been rocked by the effects of the virus. In this rather difficult situation, it is questionable for the employer how to manage their resources and how to protect their employees. The decree of the government effective from 19th March 2020 gives certain tools to the employers which may help them to optimize their operations and to defend their employees. In our short article we summarize these measures.
The worldwide coronavirus epidemic is causing serious problems in the economy as well, businesses in sensitive sectors fear a total loss of income for months. For this reason, the Hungarian Government introduced a ban on termination and rent increase for commercial lease contract in case the lessee operates in specific, sensitive sectors. However, there are several legal uncertainties surrounding the measure, which will be discussed in our brief article.
The coronavirus has appeared in Hungary as well: when writing this article 9 infected and 67 quarantined persons are registered. Because of the virus, the employers may have headaches, too since often it is not obvious how the situation shall be handled from labour law perspective. In this short article we explain the relevant legal provisions by presenting some typical cases.
The coronavirus has significant impact on the whole world economy, including the sale of goods. Whether the epidemic is considered as a force majeure event, which automatically exempts from liability to perform an international sale contract? We answer this question under the Vienna Sales Convention and its judicial practice.