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Under Hungarian law the judge can reduce the amount of the contractual penalty if it is excessive. The penalty reduction shall be expressly requested by the defendant during the litigation. Can the defendant submit such request at any time during the litigation, or is there any deadline for that? In a recent decision, the Hungarian Supreme Court addressed this issue.

One of the important advantages of arbitration proceedings is that the parties can appoint co-arbitrators. Thus, the parties can ensure that those whose impartiality, knowledge and fairness they trust will decide on their dispute. This opportunity raises the question of who the party-appointed arbitrators should be and the criteria by which the parties should appoint the party-appointed arbitrators. 

Corporate reputation is an organisation's most valuable intangible resource and may be defined as the public perception of the company and how it operates. It has its monetary expression and influences financial and social capital as well as market share. It can be positive and negative. Reputation is an essential aspect of any business. In today's digital age, a company's reputation can be easily tarnished through websites, social media, online reviews and news articles.

Under the current legislation, mediation as an alternative method of dispute resolution is voluntary. The amendments adopted in the State Gazette, No. 11 of 2023, which enter into force on 1 July 2024, introduced two categories of obligatory mediation in civil and commercial court proceedings:

It is well established in today's world that the resolution of civil disputes is a crucial aspect of any legal system both by ensuring justice effectively and enabling continual business relationships to thrive unhindered by excessively long-lasting court proceedings.

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