CMS Restructuring Wednesdays - Restructuring & Insolvency - Part 1

CMS is pleased to introduce CMS Restructuring Wednesdays breakfast series which is a seminar series on the key legal aspects of restructuring and insolvency from both a creditor and a debtor (also as an employer) perspective. The new Preventive Restructuring Directive has changed the landscape of solvent restructuring. Our team will explain the concepts of the new Directive and the ways it can be applied in order to stabilise the operation of the debtors. We will tackle the most important issues that regularly arise and pick up on some landmark cases. Amongst other topics, we will highlight the most important steps for directors to take when the company faces financial difficulties, investigate what are the risks of a bankruptcy moratorium and help you understand how the duty to promote the success of the company changes in the vicinity of insolvency. We aim to give you a global overview of the new preventive restructuring frameworks which will be implemented into Hungarian law in the near future. The seminars will provide insight for a wide audience, including bankers, in-house lawyers, financial advisors and CFOs.

The seminars will be run by Hungarian and English qualified partners and senior associates of CMS Budapest.

Part 1 - Preventive restructuring & solvent restructuring 

The implementation of the Directive on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 in Hungary may mean the long-awaited regulation of the restructuring market. In addition to the mandatory provisions to be implemented, the Directive offers options for a more effective adaptation to the economic and legal environment of the concerned Member State. Nevertheless, how does the permissible restructuring of companies facing payment difficulties at an early-stage, as envisaged by the directive, fit into the Hungarian economic environment, the companies' own crisis measures and the banks' current strategy and the Budapest Principles known to them? What can be the labour consequences of such amendments? What restructuring solutions do exist and what are their practical pitfalls?

Participation in the seminars is free and it is open for you to take part in all sessions, or only in those of your specific areas of interest.

This event is part of a series of three seminars, taking place on 6 November and on 4 December. For details on each seminar please consult their individual listings in the events calendar or visit the pages detailed below:

Part 2 - Bankruptcy procedure

Part 3 - Liquidation

Please note that the series will be entirely in Hungarian.