{"title":"The Mandatory and Default Regulation in Hungarian Company Law – A Decade of Experience","authors":"Ádám Auer, Tekla Papp","doi":"10.1515/ecfr-2023-0012","DOIUrl":null,"url":null,"abstract":"Abstract 314 The option to deviate from a legal provision has been problematic for company law. The theoretical background of legislation is rooted in the interpretative models of company law: the investor model favouring the interests of its members (shareholder theory) and a contractual model which takes into account the stakeholders in the business relationship with the company (stakeholder theory). This article reflects on the development of the regulation’s nature of Hungarian company law; the legislator implemented a fundamental change in the central element to the governance of company law in 2013. After the modification of central regulation concept of Hungarian company law, the role of the judiciary shifted to the classification of the different default-mandatory rules. This article investigates the development of the new company law regulations concept, and the related judicial practice, and also approaches the topic from the view of interests (of creditors, employees and members), striving to create a coherent dogmatic system.","PeriodicalId":54052,"journal":{"name":"European Company and Financial Law Review","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Company and Financial Law Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1515/ecfr-2023-0012","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"LAW","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract 314 The option to deviate from a legal provision has been problematic for company law. The theoretical background of legislation is rooted in the interpretative models of company law: the investor model favouring the interests of its members (shareholder theory) and a contractual model which takes into account the stakeholders in the business relationship with the company (stakeholder theory). This article reflects on the development of the regulation’s nature of Hungarian company law; the legislator implemented a fundamental change in the central element to the governance of company law in 2013. After the modification of central regulation concept of Hungarian company law, the role of the judiciary shifted to the classification of the different default-mandatory rules. This article investigates the development of the new company law regulations concept, and the related judicial practice, and also approaches the topic from the view of interests (of creditors, employees and members), striving to create a coherent dogmatic system.
期刊介绍:
In legislation and in case law, European law has become a steadily more dominant factor in determining national European company laws. The “European Company”, the forthcoming “European Private Company” as well as the Regulation on the Application of International Financial Reporting Standards (“IFRS Regulation”) have accelerated this development even more. The discussion, however, is still mired in individual nations. This is true for the academic field and – even still – for many practitioners. The journal intends to overcome this handicap by sparking a debate across Europe on drafting and application of European company law. It integrates the European company law component previously published as part of the Zeitschrift für Unternehmens- und Gesellschaftsrecht (ZGR), on of the leading German law reviews specialized in the field of company and capital market law. It aims at universities, law makers on both the European and national levels, courts, lawyers, banks and other financial service institutions, in house counsels, accountants and notaries who draft or work with European company law. The journal focuses on all areas of European company law and the financing of companies and business entities. This includes the law of capital markets as well as the law of accounting and auditing and company law related issues of insolvency law. Finally it serves as a platform for the discussion of theoretical questions such as the economic analysis of company law. It consists of articles and case notes on both decisions of the European courts as well as of national courts insofar as they have implications on European company law.