Economic and business law

In addition to the drafting deeds for company formation and change registration procedures, we provide our clients with practical and constructive legal advice in Hungarian and in English as well, in order to help them achieve their business objectives in the most efficient way and optimize the costs incurred in the same time. In this context, our advisory work covers, in particular, issues related to designing the organizational structure of companies and designating the relationship and coherence between the powers of the various corporate bodies, such as the supreme body, the management and the supervisory board. We place particular emphasis on tasks related to the acquisition and transfer of shares in companies, as well as the increase or reduction of the company’s capital and its appropriate restructuring.

Our best effort is to effectively support business decision-making by identifying and explaining the legal risks involved, in particular, the specific liability rules arising from membership and management positions – such as shadow directors – and the related requirements of law and judicial practice to mitigate the personal liability of the decision-maker. Identifying the liability issues associated with particular business actions provides useful information and the resulting discretion for our clients in the normal course of business, too, but it is even more important in economic situations of imminent insolvency.

We have gained practical competence in drafting the content of syndicated or cooperation agreements governing the internal legal relations between the owners and the company, which typically arise in the context of acquisitions and capital investments, and in the related application of certain special investor protection instruments, such as security agreements governing lien, buy and sell options and other fiduciary credit securities. In this context, our work for venture capital institutions has provided us with practical expertise in the legal review and due diligence procedures prior to acquisitions and equity investments, the drafting and structuring of investment contract schemes, fulfilling the legal process of equity investment negotiations, portfolio management and legal review of completed transactions as well.

We provide expertise in matters related to the rationalization and restructuring of the operation of group-corporations, in particular, in the context of cases of transformation such as mergers (fusion, assimilation) and de-mergers (separations, spin-offs), changes of corporate form and the dissolution of companies through winding-up without legal succession. We support our clients designing the powers and governance structures in the group in relation to the creation of recognized groups of companies and regulating the content of the control agreement which best serves the objectives of the unitary business policy.

Our expertise is useful in the settlement of legal relationships and succession issues associated with generational change, i.e., passing on wealth to heirs conducting a given activity, which is affecting businesses at an increasing rate. We assist in the implementation of various legal solutions for the protection of family assets, we deal with the succession of family businesses within the family, the restructuring of companies resulting from generational changes, and we also provide legal assistance in the drafting of family constitutions and other contractual solutions. We provide competence in the legal aspects of selling a family business to a third party, and the creation and application of trusts and trust funds as special legal entities.

We provide our clients with comprehensive legal representation in claim management. In this context, we carry out a legal classification of the claim concerned, examine the legal requirements (preliminary declarations and other contingent actions) for the initiation of possible enforcement proceedings, such as a payment notice by an attorney, order for payment procedure, civil litigation or forced liquidation proceedings. On this basis, we support our clients in choosing the most efficient procedure for their purposes and provide full legal representation therein. In addition to supporting creditors, we also provide our legal expertise to debtors as we examine the legal circumstances that may preclude or limit the enforcement of those claims, such as the statute of limitations or the legality of mandatory prior declarations and other procedural steps.

We provide catering operators with tailored, practical advice on opening and running a catering business to help them achieve their business goals, as they face a wide range of legal challenges when opening a new stage, particularly in relation to the drafting of lease agreements and creating the operating and maintenance relationships, dealing with matters of labor law, interpreting the applicable official regulations and obtaining the necessary permits.

We carry out both ex-post control and in-process quality assurance of public procurement procedures. This involves examining the conformity of the documents used in each procedure with public procurement law, in particular the way in which the technical specification is defined, the suitability of the eligibility and the evaluation criteria used.

We offer specific knowledge in legal issues related to gaming regulation and legal questions arising in relation to such activities and gaming organizations.