December 2017

Szecskay Attorneys at Law Secures Major Win in Real Estate Development

 

Hungary member firm Szecskay Attorneys at Law last month secured a significant victory before the Hungarian Supreme Court (Kúria) in its representation of a major real estate development company. The litigation, which was commenced by the Hungarian State, was aimed at establishing that the contracts by which the firm’s client acquired two properties were null and void. The properties were first sold by the Hungarian State to a local municipality, after which they were sold by the municipality to the firm’s client. The claim, which involved two high-profile properties, was valued at 35 million euros ($41,300,000 US). The Kúria held that the contracts subject to the lawsuit were valid, overturning the lower appellate court’s ruling, and reinstating the first instance judgment of the Metropolitan Court of Budapest. Szecskay’s litigation team consisted of András Szecskay, Judit Gulás and Miklós Boronkay.