HUNGARY Trends and Developments Contributed by: Zoltán Tenk, Andreász Topalidisz and Anna Horvát, TENK Law Office
more cost-efficient reorganisation or termination of insolvent businesses. The government insists that attention must be afford - ed to the increased use of digital and technological solutions and the reduction of the administrative bur - dens associated with insolvency procedures. This inherently means the inclusion of regulations on the integration of various official registries and databases so as to facilitate the flow of up-to-date information thereby also enhancing efficiency and transparency. The deadline for preparing and presenting the first draft of the new legislation to the government was 30 June 2025, however, no draft had been published on the official legislative forums until the expiry of this deadline. The adoption of the new Insolvency Act is not expected before the second half of 2026 accord - ing to current predictions.
193 CHAMBERS.COM
Powered by FlippingBook