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- Title
The Hungarian Personal Bankruptcy Act.
- Authors
Nagy-Koppany, Kornelia
- Abstract
The Hungarian Parliament recently enacted Act CV of 2015 on Personal Bankruptcy.The article summarises the most relevant provisions of the Act with special regard to the requirements for the petitioning of debts settlement proceeding and the main phases of the proceeding, such as out-of-court negotiation, judicial proceeding, and debt repayment procedure.The Act comes into force on I September 2015, and fill the gap of the country's bankruptcy law that did not allow private individuals to file for bankruptcy, or using the terminology of the Act, debt settlement petitions.
- Subjects
HUNGARY; PERSONAL bankruptcy; PERSONAL finance; CONSUMER credit; BANKRUPTCY jurisdiction
- Publication
Insolvency & Restructuring International, 2015, Vol 9, Issue 2, p34
- ISSN
1995-0241
- Publication type
Article