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Financial compensation for long-continued civil procedures
/in News /by Kapolyi IrodaThe excessive length of civil procedures is not a Hungarian nor a new problem. This issue arises from several causes, so the solution shall involve more elements as well. One way of accelerating the process is the modernization of the procedural code, which the new Code of Civil Procedure has attempted to achieve – although […]
A new ESOP arrangement on the horizon
/in News /by Kapolyi IrodaThe Employee Stock Ownership Plan (ESOP) for managing financial assets available under the so-called remuneration policy was introduced by the amendment in 2015 to the Act of 1992 on the Employee Stock Ownership Plan. As part of the general provisions, the amendment stipulates that for a financial institution, an insurance undertaking, an investment firm, and […]
News on Crowdfunding
/in News /by Kapolyi IrodaAnd what news: in our previous article we reported on the preparatory phase yet, however, on 7 October 2020 the EU has adopted its regulation on Crowdfunding service providers[1], which, due to its regulatory nature, must be directly applicable by all Member States from 10 November 2021. Uniform regulation at EU level The Regulation, as […]
Panel discussion with dr. József Kapolyi at the Legal Fest Arsboni Stories about his experience of professionalism, perseverance and legal career paths
/in News /by Kapolyi IrodaThis year, the founder and head of our law firm, dr. József Kapolyi was one of the guests at a panel discussion of the Legal Fest organized by Arsboni between 10 and 14 May, where recognized executives in the legal profession shared their experiences, opinions on their field of expertise, the operation of legal representations, […]
Information on a newly introduced restructuring procedure to prevent insolvency
/in News /by Kapolyi IrodaThe bill on restructuring and amending certain laws for the purpose of legal harmonization was prepared to transpose the content of the Titles I-II of Directive 2019/1023/EU into the Hungarian law. The Directive aims to increase the competitiveness of the Member States and the EU, which the Directive aims to achieve in two phases: restructuring […]
The Government plans to amend the Civil Code and reform the registration of legal persons
/in News /by Kapolyi IrodaThe Government has recently submitted two bills concerning legal persons, T/16206 and T/16207, amending the provisions of Act V of 2013 on the Civil Code („Civil Code”) regarding legal persons and introducing a unified register of legal persons (companies and NGOs). According to the Minister’s explanatory memorandum, the amendment of the Civil Code is necessary […]
Beneficial ownership register is introduced
/in News /by Kapolyi IrodaA bill has been submitted on the establishment and operation of a reporting framework for the identification obligations of financial and other service providers, which aims to transpose the provisions of the EU Money Laundering Directives 4 and into national law. The bill provides, inter alia, for the establishment of a central register of beneficial […]
Kapolyi Law Firm is ranked again by Legal 500 as a top tier business law firm in Hungary
/in News /by Kapolyi IrodaKapolyi Law Firm is very pleased that its Banking, Finance and Capital Markets Law practice has again achieved a Tier 1 ranking in the latest edition of Legal 500. We are also happy about the further strengthening of our Real Estate and Construction Law team’s position, now being awarded by a Tier 2 rating in […]
On the latest measures of the Government regarding the epidemiological situation
/in News /by Kapolyi IrodaThe 36th issue of the Hungarian Gazette, 2021 containing the Government Decree 104/2021 (III.5.) on the temporary aggravation of protection measures (hereinafter: Decree), has been published on the 5 March, 2021. The Decree has entered into force on 8 March 2021, and its principal measures are the following. General rules The Decree, as a general […]
Interactive Brokers Central Europe opens its regional headquarters centre in Budapest with the professional support of Kapolyi Law Firm.
/in News /by Kapolyi IrodaThe international brokerage firm Interactive Brokers opened its Central European headquarters in Budapest. Kapolyi Law Firm has played an active role in the authorization process in Hungary as a legal counsel. Interactive Brokers Central Europe is the tenth subsidiary of an international brokerage firm that will manage an ever-growing portfolio of client accounts in Central […]
Group financing: despite legislative changes conservative approach is recommended
/in News /by Kapolyi IrodaFrequent question on management meetings is whether lending in group financing structures would be possible for parent companies or real estate funds for purposes of development or acquiring assets, following the amendment of the definition on group financing set forth in Act CCXXXVII of 2013 on Credit Institutions and Financial Undertakings (Hpt.) effective as of […]
Financial Arbitration – Expanding Possibilities
/in News /by Kapolyi IrodaA new provision of the Hungarian Arbitration Act entered into force on 1 January 2021, which may attract the attention of investors. The stipulation of arbitration proceedings in consumer contracts was generally prohibited until the end of the last year. However, this prohibition, which is intended to ensure the better protection of consumer interests, is […]
In case of high-value real properties even the professional property investors should consider to take out title insurance
/in News /by Kapolyi IrodaIt is not yet widespread in Hungary, although common practice in Anglo-Saxon areas, that at the same time of purchasing a real property of higher-value, principally commercial and industrial ones, or a company owning the real property, buyers take out the so-called title insurance. What does this mean in practice? It will be summarized in […]
The impact of Brexit on EU trademarks
/in News /by Kapolyi IrodaBrexit will bring a number of changes to certain international legal relationships that we can’t anticipate yet; therefore a number of legal issues will arise related to the period beginning on January 1, 2021. Until then, however, there is a transitional period during which we should, as much as possible, prepare for the post-Brexit period. […]