Hungarian implementation of EU Directive on Cross-Border Mergers of Limited Liability Companies

On 15 December 2007, Act CXL of 2007 on the cross-border merger of limited liability companies (the Act) entered into force in Hungary. The Act, implementing the EU Directive 2005/56/EC on Cross-Border Mergers of Limited Liability Companies, regulates the cross-border merger of companies where a participant of the merger has a registered seat in Hungary. The companies qualifying under the Act are: limited liability companies (korlátolt felelõsségu társaság), companies limited by…