The new Civil Code of Hungary entered into force on March 15, 2014 and introduces many changes including new provisions on the liability of executive officers.

The new law extends the liability of corporate executives to include not only liability towards the company (for breach of contract) but also towards third parties (based on liability arising from non-contractual damages). Furthermore, the Code has introduced stricter regulations regarding exculpation. At the same time, it is now possible to utilize more extensive limitations of liability.

If you would like more detailed information on the most recent changes in corporate law please do not hesitate to contact us. We also offer legal advice for corporate and private clients in most matters. Contact Dr. Gabriella Benisch LL.M., Attorney at Law, at .