“Lex MOL” may follow “Lex Volkswagen”


According to the ruling of the European Court that was published yesterday, Germany did not fulfill its obligations towards the EU, when it kept some points of the so-called Volkswagen-law in effect.

The process was initiated by the European Commission (EC) because of the legal restraints imposed in relation to the privatization of shares of car manufacturer Volkswagen (VW). According to the legislation, special rules apply to the shareholders of VW that differ from the general regulations of the company law. According to the EC, these regulations breach the freedom of establishment and the free movement of capital.

After the Court’s decision, the German government will change the regulation soon, spokesman of the Ministry of Justice responded. Whether the law will be completely abolished or just amended is not yet decided. The developments in Germany may prove as an indicator on the European Union’s take on protectionist laws, such as the so-called “lex MOL”, which was recently passed by an overwhelming majority in the Hungarian parliament. The measure enacted to protect Hungarian energy major MOL from a hostile takeover by Austrian peer OMV may now likely be found to breach Community law. (Magyar Hírlap)


Business Sentiment Up, Consumer Confidence Down in September Analysis

Business Sentiment Up, Consumer Confidence Down in September

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


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.