Bill seeks to extend bankruptcy protection period to 120 days – Napi Gazdaság


A bill drawn up by Hungary's Ministry of Public Administration and Justice would extend the maximum period of time companies may ask for protection from their creditors from 90 to 120 days, business daily Napi Gazdaság said on Thursday.

The bill also places greater accountability on managers who attempt to deceive creditors, the paper said.

The number of bankruptcy protection procedures in Hungary is negligible, perhaps because of the practice of moving assets in companies under mandatory liquidation into another company.


Tourism Nights Down 0.2% y.o.y. in October Analysis

Tourism Nights Down 0.2% y.o.y. in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Number of Job Adverts up Minimally HR

Number of Job Adverts up Minimally

No Lit-up Trams This Year City

No Lit-up Trams This Year


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.