The Hungarian Parliament
recently passed new legislation on arbitration (Act LX of 2017 on Arbitration, the “2017
Act”) that will reform Hungarian arbitration law as of 1 January 2018.

The 2017 Act, considering both the shortcomings of the current Hungarian
legislation (Act LXXI of
1994 on Arbitration, the “1994 Act”) and the amendment of the
UNCITRAL Model Law on International Commercial Arbitration adopted in 2006 (the
“Model Law”), repositions arbitration by reforming the choice of arbitrators,
the institutional system of Hungarian arbitration panels, and the power of the
panels ordering interim measures and preliminary orders. read more...