Author: Aron Ferencz

Recruiting for ISIS = No Criminal Penalty: Misguided Youths or Terrorists?

The Higher Regional Court (Oberlandesgericht) of Celle recently refrained from imposing a criminal sentence on a 23-year-old member (or prospective member) of ISIS (the so-called Islamic State). Although the court found the young man guilty of attempting to recruit members for the terrorist organisation known as the Islamic State, it did not impose a sentence […]

Stop Geoblocking: Online Shopping Within the EU Will Become Easier

European consumer protection has reached another important milestone. The European Parliament had already decided to prohibit geoblocking in relation to streaming services, meaning that a service may no longer be made unavailable to a consumer merely because that consumer is physically located in a different Member State from the service provider. Consumers therefore no longer […]

Federal Court of Justice: Damages May Be Awarded Even Where a Foreign Currency Loan Is Valid

The German Federal Court of Justice (Bundesgerichtshof – BGH) recently published the written grounds of its judgment dated 9 December 2017. According to the judgment, a court must still examine a damages claim brought by a borrower indebted in a foreign currency, even where the underlying loan agreement itself was validly concluded. Before a loan […]

Cheap Company Formation on an Assembly Line?

In recent years, so-called “consultancy firms” operating without legal qualifications have become increasingly common, promising inexpensive and hassle-free company formation services in Germany. Their services typically consist of providing registered office facilities and/or interpreting services to their clients. Although this may sound like self-promotion, we would caution anyone considering such services. Establishing a company is […]

Slovenian Supreme Court: A CHF Loan Is Void in Cases of Inadequate Risk Disclosure

In a considerable number of court cases affecting Hungarian victims of foreign-currency loans, Hungarian courts have tended to find only partial invalidity of the underlying agreements. Likewise, relying on certain Supreme Court (Kúria) opinions that are, in our view, highly unprofessional and ambiguously drafted, courts often limit their examination to the mere formal existence of […]

Attestation by an Attorney is Available Abroad as Well

Our firm is able to provide attorney certification (countersignature) in Germany for documents intended to be used in Hungary. This is a common issue particularly for Hungarian nationals living or working abroad who require either an attorney-certified document or a public deed for administrative procedures in Hungary. This situation typically arises, for example, when you […]

Personal Liability of a German GmbH Managing Director in the Event of Insolvency (also applicable to an AG)

A situation frequently encountered by Hungarian suppliers (who later become creditors in insolvency proceedings) is that, after they have performed their contractual obligations, their German business partner files for insolvency. The creditor is then often left with no option but to accept the distribution quota determined by the German insolvency administrator. As a result, substantial […]