Bill would authorize MNV to e-auction heirless objects

Deals

Hungarian lawmakers submitted a bill to Parliament yesterday, under which the Hungarian National Asset Management Company (MNV) would receive authorization to organize electronic auctions of assets that it owns but does not manage, Hungarian news agency MTI reported.

The e-auction system would allow MNV to sell the assets in a "flexible and continuous" manner, the bill says.

The bill notes that MNV has in its warehouses almost 100,000 objects that it owns but does not manage, with a book value of almost HUF 1.1bn, including 42,000 items it acquired from deceased owners without heirs.

MNV called just one auction for the sale of the objects in the past four years, and revenue from utilization of the objects reached just under HUF 6 mln in the past three years.

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