Among our special fields, there is comprehensive and high-quality legal counselling provided for our clients in a range variety of business issues, such as finding the optimal corporation form and seeking optimal legal conditions for business operations, drafting the necessary documentation for launching, amending the business association form chosen by the clients, corporate legal representation of clients (company registration, re-registration, changes in company assets: increase / reduction of capital, corporation changes, mergers & acquisitions, changes in the company’s legal form), arranging legal disputes among members and legal representation in voluntary/compulsory winding-up proceedings.
1. Establishment of a business association
As for today, it is plain easy to establish and to incorporate a company. It only takes a few days to register a company within the frames of a simplified legal procedure by using a pre-determined model contract.
2. Modification of a company
The reason for amendment of the memorandum of association of a formerly incorporated company may be a mutual agreement of the members or an amendment of law.
As for today, it is obligatory to amend the memorandum of association of a private limited company with respect to the fact that the Civil Code being in effect increases the minimum amount of share capital from 500 000 HUF to 3 000 000 HUF.
3. Settlement of legal disputes among shareholders
There are several indications of legal disputes and misunderstandings between the shareholders: withdrawal of dividend, fulfilment of additional payment obligations, increase of share capital, reduction of share capital, determination of the value of business share in case of sale and purchase of business shares, setting operational and business order of the company, exclusion of members or termination of the company.
Among general rules for business associations, the Civil Code ensures the rights of minorities and, among else, the conditions of the exclusion from a business association.
In both cases, a legal dispute and a conflict of interests between members may arise very typical.
In order to bridge differences, the role of an attorney is not limited to counselling and legal representation of the rights of the aggrieved party, but the attorney also acts as a mediator. To reach settlement between members is not only a financial interest but it may also save a company from dissolution or may maintain profitable operation. With respect to this, responsible decisions must be made to settle disputes. Real-time presence of an attorney is essential. The attorney shall be the one who is able to forecast short,- and long term consequences of certain legal decisions and to provide comprehensive support to find solutions.
4. Dissolution of a company
In the event of dissolution of a company without any legal successor, voluntary winding-up may be the only possibility provided that the company is not insolvent and unless the concerning Act contains provisions to the contrary.
The business association may possibly be dissolved as a result of mutual agreement of the shareholders, provided that the shareholder’s meeting unanimously decides on it and such decision was fixed in the minutes. Other way for dissolution may be if the company does not have any unsettled liability or it is able to fulfil its payment obligations within the frames of a voluntary winding-up.
