Verfahrensrechtliche Fragen des Sicherheitsanspruchs der Gläubiger bei der Umwandlung von Gesellschaften in Ungarn
Procedural Issues of Security Claim of the Creditors in the Conversion of Companies in Hungary

Summary/Abstract: Present paper concentrates on the procedural anomalies of the regulation of the transformation of companies in Hungary: the protection of creditors and sanctions are examined in this research. The primary objective and aims of this paper are to put some questions that follow from the insuffi cient and controversial legal regulations. The starting-points of the analysis of this topic are the legal acts and norms concerning the transformation of companies presented also the points of view of literatures, the jurisdiction and the contractual practice. The protection of creditors is set forth in the fi rst part of the paper. In the Hungarian Companies Act is declared that all creditors whose debts originated before the fi rst publication of the transformation shall have a right within 30 days from the second publications to demand guarantees from the company. The essence of the problem could be summarized that although the right of the creditors to demand securities and guarantees is named in the Hungarian Company Act, but sanctions aren’t applied in the legal norms in case, when the guarantees still aren’t given from the transferor company.

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