Liquidation only above HUF 200,000? When the creditor may take action

The minimum amount threshold for filing a petition to commence liquidation proceedings: when and how may the creditor act?

Introduction

Liquidation proceedings are not a simple debt collection tool, but a procedure designed to resolve insolvency. Accordingly, the legislator sets limits and preconditions to prevent creditors from abusing this instrument.

Legal background and typical cases of insolvency

The Act on Bankruptcy Proceedings and Liquidation Proceedings (abbreviated as the Bankruptcy Act) sets out when a debtor may be considered insolvent. Among other things, the court may establish insolvency in the following situations:

• - Contractual debt that is undisputed or acknowledged: the debtor has failed to pay within 20 days after the due date and has not disputed the debt, and has also failed to perform in response to the creditor’s subsequent written payment notice.
• - Final court decision or order for payment: the debtor has failed to pay within the deadline set in the final decision.
• - Other cases specified in the Bankruptcy Act: for example, unsuccessful enforcement.

The minimum amount threshold: HUF 200,000 (what exactly does this mean?)

• - When must it reach HUF 200,000? In the two typical cases above (undisputed/acknowledged contractual debt + separate creditor notice; or failure to comply with a final judgment/order for payment), the creditor may file a liquidation petition only if the amount of the claim exceeds HUF 200,000.
• - What counts toward the amount? Only the principal debt (the “principal claim”). Default interest, penalties, the flat-rate debt collection cost reimbursement (EUR 40), other ancillary charges, and procedural costs may not be included.
• - Aggregation from multiple invoices: The creditor may add together due principal debts owed by the same debtor, and if together they exceed HUF 200,000, the threshold may be met. The full amount does not necessarily have to arise from a single contract, but the “undisputed or acknowledged” condition must be examined for each affected claim.
• - Joint petition by multiple creditors: The threshold applies to one creditor’s claim against one debtor. If several creditors each have claims below HUF 200,000, aggregating them will generally not be sufficient to reach the threshold; each of them must independently meet the conditions, or rely on another ground of insolvency not tied to the threshold.
• - Foreign-currency claim: In the case of a claim denominated in foreign currency, the court examines compliance with the threshold in HUF; it is advisable to indicate in the petition the exchange rate applied (e.g. the MNB rate) and the HUF equivalent on the date of filing.

The case of a final judgment/order for payment

• - If the claim is based on a final court decision or a final order for payment, and the debtor fails to perform within the set deadline, a liquidation petition may be filed, provided that the principal debt exceeds HUF 200,000.
• - In this case, no separate creditor notice is required, but the threshold applies in the same way.

What counts as ancillary charges, and why is this important?

• - Default interest (statutory or contractual)
• - Penalty
• - Flat-rate debt collection cost reimbursement (EUR 40 in commercial transactions)
• - Procedural and legal costs
• - Other accessory claims

These may not be included in the HUF 200,000 minimum.
A common mistake is when the creditor “reaches” the threshold together with interest; the court will reject this.

Practical example situations

• - Example 1: The principal debt is HUF 195,000 and the default interest is HUF 30,000. No petition may be filed under the above grounds because the principal does not reach HUF 200,000.
• - Example 2: There are three due and undisputed invoices of HUF 90,000 each with the same debtor. The principal debts may be added together (HUF 270,000), so the threshold is met if the 20 days have elapsed and there was a documented written notice.
• - Example 3: The principal debt is HUF 210,000, but on day 15 the debtor disputed performance in detail (quality objection, with documents). The condition of an undisputed debt is not met; instead of a liquidation petition, litigation or the initiation of an order for payment procedure is appropriate.
• - Example 4: A final order for payment for principal of HUF 230,000, and the debtor has not paid. The threshold is met, and liquidation may be requested.

Important distinctions and good practice

• - Liquidation is not a debt collection tool: If the claim is disputed, the proper route is an order for payment or litigation. Using the initiation of liquidation proceedings as “pressure” may qualify as abuse, with cost and damages consequences.
• - Communication and provability: Always send the creditor notice in a way that allows delivery/receipt to be documented. Pay attention to the accuracy of the address and company details.
• - Transparency of calculations: Prepare the petition so that the principal is clearly separated from ancillary charges, and it is clear how the principal exceeds HUF 200,000.

Summary

• - The HUF 200,000 minimum amount threshold is a key filter for liquidation petitions if the creditor relies on an “undisputed or acknowledged” contractual debt (20 days + written notice) or on failure to comply with a final judgment/order for payment.
• - The threshold applies exclusively to the principal debt; interest and other ancillary charges may not be included.
• - A successful petition requires careful preparation: proving the absence of a dispute or the existence of an enforceable final title, the notice and its delivery, and clearly presenting the principal debt exceeding HUF 200,000.
• - In case of doubt, it is advisable to consult a legal professional, because an improperly chosen procedure or an incomplete petition may lead to rejection and unnecessary costs.

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