When is a licence required for the purchasing of receivables 14 June 2019

Banking and finance

According to a recent decision of the Curia, the purchase of receivables without license issued by the competent authority may imply the breach of the Credit Institutions Act in cases where more than one receivable is transferred. Also, when determining whether such a contract on the sale and purchase of receivables has or has not been individually negotiated (whether or not such a deal is to be deemed as business activity within the meaning of the Credit Institutions Act), facts arising out of business relationships between the parties other than the contract on the sale and purchase of receivables shall not be taken into account.


Court practice, Factoring

Back to news

Hasonló híreink

The Curia of Hungary has taken a decision on interpreting the statement of an absolute surety

The facts of the case are the following: the plaintiff and the first defendant concluded a contract of concession on the...

Details

The bank is not under a client identification requirement with respect to the recipient of the payment

In the case adjudged by the Supreme Court, the defendant bank (hereinafter referred to as the Bank) performed the payment...

Details

ECJ judgment on financial collateral arrangements

In Case C-156/15 (hereinafter the Case) the Court of Justice of the European Union (hereinafter the Court) ruled for the...

Details

Article on the Curia's decision on charge on future receivables

The Curia recently published a decision, in which it explained the limits of establishing charge on future receivables. István...

Details