Post-1990 Secured Transactions Law Reforms in Central and Eastern Europe
Bulletin of the Chamber of Public Notaries of County Szeged (Hungary), vol. II, No. 3, pp. 14-21 and No. 4 pp. 18-26.
16 Pages Posted: 12 Dec 2013
Date Written: October 27, 2013
The paper reviews the post-1990 secured transactions reforms in Central and Eastern Europe (primarily countries neighboring Hungary) and contrasts them as well as comments on some key novelties introduced by the 2013 Hungarian Civil Code. This includes in particular reflections on the introduction of UCC Article 9-type notice filing and a softer version of self-help repossession. It is also noted that the new Hungarian law has failed to adequately address such key issues as the relationship of secured transactions and bankruptcy laws as well as the features and enforcement of floating liens.
Keywords: secured transactions law reforms, bankruptcy, self-help, private debt collection
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