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 […]
Fővárosi Ítélőtábla: a vezető tisztségviselő felelőssége sem korlátlan
In a precedent-setting case before the Hungarian courts, the lawyers of our firm successfully represented the executive officers of a Hungarian cooperative in a damages action brought by members of the same legal entity. The Budapest Court of Appeal fully agreed with our firm’s legal position, according to which the members / shareholders / creditors […]
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