06 November 2019, 08:30 -
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 2 - Bankruptcy procedure
Despite the repeated amendments to the bankruptcy procedure, it is still rarely used procedure and successful bankruptcy moratoriums are even rarer. We are looking for the answer to why companies do not avail of the possibility of bankruptcy moratorium, what are the procedural risks for debtors and creditors and how should they be modified to improve efficiency? How do the employees’ situation change during such a procedure? We investigate from the point of view of company law the opening of bankruptcy procedures and the liability issues arising in the event of threatening insolvency.
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 9 October 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 1 - Preventive restructuring & solvent restructuring
Part 3 - Liquidation
Please note that the series will be entirely in Hungarian.