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Did You Know that a total of 15 partners have worked on multiple reported Hungarian Banking/Finance client matters in the ten years that CEE Legal Matters has been covering the market? The Banking/Finance leaderboard over the past decade is led by CMS Budapest Partner Erika Papp, who has worked on 14 reported Banking/Finance client matters in that time.

A significant part of the provisions of the Government decree on the detailed rules of the operation of the extended producer responsibility system will enter into force on 1 July 2023, however, some provisions are already applicable from 1 April.

The Hungarian Government would designate additional areas of Budapest as immediate ‘Rust Belt’ areas, where the related development regulation will be applicable.

Five years ago, probably the most common concern of companies across the European Union was to reach compliance with the General Data Protection Regulation. In the recent years, tempers have calmed down, nevertheless the application of the GDPR raises interesting legal questions from time to time. To celebrate the GDPR’s fifth birthday, we collected five landmark decisions of the Court of Justice of the European Union interpreting the GDPR that made a high impact on data controllers’ lives.

Significant changes are expected in the Hungarian tax system in the coming years, which could have a major impact on economic operators and individuals alike. As a result of the changes, the State is likely to lose significant revenues and the means to replace these revenues are not yet known.

In a recent case (under No. BDT2023.4623), the Budapest Court of Appeal made an important decision on the issue of jurisdiction. The case related to challenging the fairness (and the validity) of general terms of business (GTCs) of foreign service providers engaging in business with consumers in Hungary.

At the beginning of May 2023, a new bill to amend certain laws to increase the competitiveness of the economy was submitted for public consultation. The bill proposes amendments to many laws, but the most important of these is the regulation of construction right in the Civil Code.

Schoenherr, working with Luther and Hogan Lovells, has advised the Cargo-Partner Group Holding on its EUR 1.4 billion sale of Cargo-Partner GmbH and 60 other subsidiaries to Nippon Express Holdings. Freshfields Bruckhaus Deringer advised the buyer.

Cerha Hempel has advised majority shareholder Talents Squared Limited on the sale of a 90% stake in Modul University Vienna to a subsidiary of the Hungarian Mathias Corvinus Collegium. Brauneis reportedly advised Modul minority shareholder Wirtschaftskammer Wien. Illes Geza Marton and Graf Isola reportedly advised the Mathias Corvinus Collegium.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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