Introduction

HUNGARIAN ASSOCIATION OF INSOLVENCY PRACTITIONERS AND ASSET CONTROLERS

The year of foundation: 1992

HISTORY OF THE ASSOCIATION

The Hungarian Association of Insolvency Practitioners (HAIP), as a self-government safeguarding the professional interests of the insolvency and asset controling professional areas was registered by the Municipal Court of Budapest pursuant to the II. Law of 1989 under No. 7392 as a social organization. The HAIP was established simultaneously with the enactment of the Bankruptcy Law as of 1992, as a legal successor of the Association of Liquidators and Corporate Restructuring Experts and the Professional Chamber of the Liquidators. The HAIP initiated its reorganisation into a professional public body chamber within the framework of a new EU-conform and creditor protective insolvency law, which is currently undergoing a legislative process. According to the decision of the regenerating Annual General Meeting of 2004, the professional self-government was renamed the Hungarian Association of Insolvency Practitioners and Asset Controlers.

THE ASSOCIATION’S PRIMARY TARGETS AND MAIN SCOPE OF DUTIES

The association’s most important targets set out in the bylaws, which are increasingly becoming familiar in professional circles and in the perception of the wider public are as follows:

  • development of the professional culture and ethical standards of the insolvency law and asset controlers’ practice,

  • enforcement of the interests of the companies registered in the Register of Liquidators, which are specialized in insolvency crisis management,

  • promotion of the professional cooperation and development of the members of the association and other companies concerned,

  • promotion of the actual implementation of the law-abiding and ethical insolvency professional and liquidating activity. 

The association’s main scope of duties:

  • initiation and review of the creation and modification of the regulations concerned with the insolvency and creditor protective profession,

  • working out the professional system of requirements, ethical standards, and guidelines (Code of Conduct) of the activities and professional areas belonging to this sphere of competence,

  • organisation of national and international conferences, professional consultations in order to create a practice aimed at the professional and economic efficiency of the dissolution, liquidating and asset controling activities,

  • promotion of a higher education level insolvency professional education embracing this professional area, and continuous training, and exchange of experience,

  • introduction and promotion of well-established methods and quality assurance systems,

  • preparation, publication and dissemination of offers, guidelines, joint professional statements and methodological documents;

  • creation and reinforcement of a fair partnership and cooperation with organisations, institutions and other interested parties connected to this scope of activity.

THE ASSOCIATION’S INFORMATION AND COMMUNICATION SYSTEM

The HAIP’S website was created with the intention of promoting the up-to-date notification of the insolvency and creditor protective and asset controling professional areas and ensuring the appropriate communication between the participants and interested parties working in this field. On the website, among other things, the bylaws and Code of Conduct of the Association, the most important data of the member organisations, the names and contact numbers of the presidency, the professional, ethical and controling committees, as well as press releases, professional statements concerned with the profession, and liquidation, auction and application notices are available.

NUMBER OF MEMBERS OF THE ASSOCIATION

There are 108 ordinary members and 2 patrons in the Association as of 1st September 2011. (The Register of Liquidators held by the Ministry for National Economy consists of 107 members.)