N&T at a glance

A brief history of N&T

 

N&T began in 1991, when Péter Nagy and László Trócsányi, having worked in New York and Brussels respectively, returned to Hungary to start their own law firm in Budapest. Within a year, the firm was up and running and had evolved into a full-service commercial law firm, with over a dozen specialized attorneys advising and acting for clients in virtually every area of international private and commercial law. N&T quickly built a strong reputation, which was cemented in 1998 when it entered into an association with Coudert Brothers LLP, a leading multinational law firm. Since 2002, N&T has been the sole Hungarian member of Lex Mundi, the world’s leading network of independent law firms.

 

To serve the needs of its global client base, N&T continued to expand and was joined by many outstanding partners and associates, among them well-known law professors. N&T alumni went on to serve variously as President of the Republic of Hungary, Constitutional Court judge, ambassador, Hungary’s Minister of Justice, EU General Court judge, European Commission officer and Member of the ICC International Court of Arbitration.

 

Over the years, among countless other complex and fascinating matters, N&T has acted for clients involved in Hungary’s largest ever privatization; its largest ever energy construction project; and its largest ever litigation by disputed sum. N&T has carved out a name for itself advising sophisticated international clients, and its excellent reputation among its peers is reflected in the firm’s ratings by Chambers, Legal 500 and other similar organizations.

 

 

OFFICES

Nagy és Trócsányi 's office is in Budapest and has close working relationships with many international law firms.

PEOPLE

Nagy és Trócsányi has 22 lawyers out of whom 8 are partners: all partners are equity partners. We believe in promoting from within the firm and have few lateral hires into our partnership.

CLIENTS

We advise a broad range of clients, including numerous multinational corporations. Being the premier independent law firm in Hungary means that law firms from all over the world that do not have direct representation in Hungary seek us out to advise their clients. BAR MEMBERSHIP Nagy és Trócsányi Ügyvédi Iroda is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of our lawyers are admitted attorneys or registered as legal consultants in New York.

BAR MEMBERSHIP

Nagy és Trócsányi Ügyvédi Iroda is a legal entity and registered with the Budapest Bar Association.

All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association.

Several of our lawyers are admitted attorneys or registered as legal consultants in New York.

As a community, we at N&T firmly believe in every person’s right to dignity, self-affirmation, freedom of expression and conscience, and freedom in their personal and family lives. As lawyers, we at N&T firmly believe in equality before the law - the foundation of human rights. Maintaining an open, diverse and inclusive culture within our own firm, and supporting these values outside it, not only strengthens our ability to attract and retain talented individuals from all backgrounds and provide better services to our clients, but is also an ethical imperative.

Corporate and M&A

 

Nagy és Trócsányi Ügyvédi Iroda has a strong corporate offering, advising on cross-border mergers, corporate finance, corporate governance and restructuring. Ildikó Varga regularly advises multinational corporations on their foreign direct investment and acquisitions in Hungary.

Legal 500, 2021

 

Nagy és Trócsányi Ügyvédi Iroda advises domestic clients on local transactions, and handles cross-border mandates, working alongside global law firms. It is particularly active in the energy sector, which it advises on multimillion-euro transactions. Within the 'dynamic' team, practice head Ildikó Varga has a wealth of experience handling cross-border and foreign direct investment transactions.

Legal 500, 2020

 

Nagy és Trócsányi Ügyvédi Iroda advised Hungary’s Prime Minister’s Office on the negotiations for the development and construction of the Paks II nuclear power plant project. Department head Ildikó Varga is experienced in cross-border transactions.

Legal 500, 2019

 

Nagy & Trócsányi is an independent law firm active in banking and M&A, with mainly corporate advisory roles. During the research period in banking and finance the firm had mainly regulatory roles and advised multiple banks including Raiffeisen Bank and Sberbank. It also advised on debt restructuring. In M&A the firm advised the sellers and buyers in acquisitions, though most of its work was advising on corporate and regulatory compliance matters. In project work the firm worked on energy projects.

Client feedback: "Excellent service, prompt responses and efficient."

IFLR 1000, 2020

 

“The firms’s solutions are focused on clients’ needs, and their services are great value for money”

“Reliable, quick and professional.”

“Strong local practice with good connections to authorities. Excellent understanding of the market.”

Wide experience on corporate legal matters.”

“Strengths: professionalism, sector knowledge and value for money”

IFLR 1000, 2019

 

Notable team acting for domestic clients on Hungarian transactions and working alongside global law firms on international mandates. Offers additional expertise in corporate restructuring, governance and transaction-related litigation. Particularly active in due diligence and the establishment of Hungarian subsidiaries. Demonstrates sector expertise in real estate, energy and financial services. Clients are impressed with the team's output, with one source noting: "They get the matters done and are co-operative, fair, precise and on time." Another interviewee states: "They are very fast and available."

Head of department Ildikó Varga is the key contact for this firm.

Chambers Europe, 2019

 

Dispute resolution

 

Led by Péter Nagy, Nagy és Trócsányi Ügyvédi Iroda's disputes team has a 'good combination of high analytical skills and exceptional synthesis with a professional interest'. It is active in high-profile civil litigation and arbitration cases involving constitutional and administrative law, tax, real estate, product liability, corporate and commercial and TMT claims, among others. Nagy is sought after for his expertise in tax disputes, as well as claims pertaining to banking litigation, product liability and damages. Orsolya Kovács and György Kiszely are also recommended for tax and banking litigation.

Testimonials:

Strengths: high professional legal experience, good client care, accuracy. ‘

‘Excellent team with strong knowledge, a good combination of high analytical skills and exceptional synthesis with a professional interest to contribution to the bottom line. In the field of litigation is the best ever lawyer I know: Peter Nagy (Nagy & Trocsanyi law firm). Excellent communication skills at court combined with the ability to adapt to any new situations. ’

‘Very capable team with the ability for strategic thinking.’

Legal 500, 2021

 

Nagy és Trócsányi Ügyvédi Iroda's team is led by highly regarded tax litigation specialist Péter Nagy, who counts major national and multinational corporates as clients. Nagy serves as a member of the ICC Arbitration Court, and is supported by Orsolya Kovács, and senior associate Viktor Jéger, who focuses on competition-related litigation.

Legal 500, 2020

 

Nagy és Trócsányi Ügyvédi Iroda is regularly instructed on litigation and arbitration cases and the team represents the Hungarian Government in several high-profile matters. It also acts for OTP Bank in a number of cases, and acts for clients such as FGSZ Natural Gas Transmission, Gateway Office Park and the Hungarian State. Péter Nagy heads the team. György Kiszely and Orsolya Kovács, who handles tax litigation, are also noted.

Legal 500, 2019

 

Represents large domestic and international clients in a wide variety of cases, including contract disputes, product liability and damages claims. Also advises on construction arbitration cases and administrative disputes. Additionally experienced in tax and competition disputes. Particularly sought after by clients from the banking and energy sectors.

Lawyers at the firm are "extremely good in court and very prepared," according to clients. Other clients consider the team to be "hard-working and up to date with issues of the legislative system."

Market commentators report that Orsolya Kovács is "a superb lawyer." She is especially active in tax litigation, as well as real estate disputes. Kovács is also well equipped to deal with cartel cases and damages claims.

Péter Nagy frequently handles high-profile, high-value litigation on behalf of governmental institutions and well-known banks. Nagy has extensive experience in state aid cases, commercial disputes and international arbitration. His clients appreciate that he has "very well-structured thinking and an extremely wide range of experience." Other interviewees describe him as "smart, very open and straight to the point."

Cambers Europe, 2021

 

Represents large domestic and international clients in a wide variety of cases, including contract disputes, product liability and damages claims. Also advises on construction arbitration cases and administrative disputes. Particularly sought after by clients from the banking and energy sectors.

Clients highlight the thoroughness of practitioners at the firm: “They are always prepared and they pay attention to every detail.” Another client reports that “members of the team are proactive, client-oriented and have in-depth expertise.”

Péter Nagy boasts considerable experience in a wide range of disputes, including banking litigation, liability litigation and damages claims. Interviewees highlight his “great pool of knowledge,” while a client describes him as “very responsive and reliable” and praises his “deep legal knowledge, strategic thinking and very client-oriented approach.” The “flexible, client-oriented and proactive” Orsolya Kovács is held in high regard for her experience in tax litigation. She is also well equipped to handle damages claims, contract disputes and real estate disputes.

Chambers Europe, 2020

 

Represents large domestic and international clients in a wide variety of cases, including contract disputes, product liability and damages claims. Highly active in the domestic market, advising major banks and companies in the energy sector. Clients highlight that the lawyers are "very good strategically," as well as "experienced, decisive and have super deep knowledge of litigation procedures." Clients are also pleased with the team's effectiveness, describing it as being "thorough, accurate and prepared." Orsolya Kovács is praised for her comprehensive research and preparation. According to clients, Kovács is "highly trained on substantive legal and procedural issues." A source also states that she is "a pleasure to work with." She leads cases that involve government institutions as well as acting on real estate and tax litigation. According to sources, Péter Nagy boasts "deep legal knowledge" and is "extremely confident" in court. He is further noted for his "great oversight and network." Nagy represents clients in litigation as well as arbitration, and is particularly active on financial disputes and litigation involving the Hungarian state.

Chambers Europe, 2019

 

 

Real estate and construction

 

Nagy és Trócsányi Ügyvédi Iroda provides 'excellent support' in relation to the acquisition and disposal of greenfield developments, retail units and office buildings. Its team is also experienced in handling real estate portfolios and the management of commercial leases.

Testimonials

‘Partners’ availability and responsiveness is impressive, 24/7. Their flexibility is also much appreciated: capacity to organize a signing meeting with 24 hours’ notice in the middle of the summer break. Value for work done is very good. Billing is transparent. Never had bad surprises.’

‘Availability and responsiveness. Knowledge of the industry business Negotiation approach : partners are pragmatic and view themselves as facilitators of transactions’

‘The law firm provides excellent support in any type of real-estate related issues. They understand the problems quickly and react to them very professionally, yet in a way that everyday people also understand the scenarios they worked out.’

‘They are always polite to the highest extent; approachable any time and have unlimited patience to explain the different scenarios as long as the client sees the whole picture clearly.’

‘They are very much flexible, business-minded, very good at helping non-professional contracting counterparties get into the way to achieve mutual understanding and consensus. ’

‘Quality of partners; Efficiency in delivering; Communication & case/matter management’

Legal 500, 2021

 

Nagy és Trócsányi Ügyvédi Iroda's recent caseload includes advising on greenfield developments, the sale and purchase of commercial premises, and leasings. 

Legal 500, 2020

 

Nagy és Trócsányi Ügyvédi Iroda advised Marks & Spencer on the termination of its leases relating to its exit from Hungary.

Legal 500, 2019

 

Broad expertise covering all types of real estate work including sales and purchases, financing and developments. Property litigation is a further area of expertise. Particularly sought after to handle commercial lease and tenancy matters. Client roster includes domestic and multinational corporates such as major retail and leisure companies. Clients highlight that lawyers "are always looking for the best solutions for the case and for the client, including fresh ideas about implementation."

Chambers Europe, 2019

 

Taxation

 

Nagy és Trócsányi Ügyvédi Iroda has an excellent reputation in tax litigation. It also advises on tax structuring and planning, where it works with KPMG on the Hungarian law aspects of transactional tax, audits and general financial advisory matters. Orsolya Kovács acts for a range of clients in tax administrative procedures and litigation. Péter Nagy is the key figure for tax planning.

Testimonials

‘First of all, the international, complicated and high value lawsuits. Significant language skills, huge professional experience and knowledge are their greatest strength. Their invoicing is appropriate. In my opinion their service is excellent.’

‘Dr. Péter Nagy – his strengths are his huge professional experience, factual knowledge, significant litigation practice and him being strong-minded. He is a go-to lawyer. Dr. Orsolya Kovács – Her strengths are her thorough knowledge and precise document editing.’

Legal 500, 2021

 

Nagy és Trócsányi Ügyvédi Iroda's full-service tax practice covers tax litigation which is a key area of expertise for the group, as well as tax structuring and planning mandates. Péter Nagy and Orsolya Kovács are praised as 'exceptional'; Kovács has particular experience in handling tax litigation in the administrative courts.

Legal 500, 2020

 

Nagy és Trócsányi Ügyvédi Iroda’s ‘extremely practical’ team ‘always tries to grasp the business perspective of an issue’. Tax litigation, structuring and planning are key areas of expertise, and the team also advises on the tax aspects of transactions. Orsolya Kovács, who stands out for her ‘thorough knowledge and precise document editing skills’, and Péter Nagy, who has ‘huge professional experience’, lead the department.

Legal 500, 2019

 

Orsolya Kovács offers expertise in tax litigation, covering issues such as VAT. She acts for a range of clients, including in the retail and transportation spaces.

Chambers Europe 2021

 

Market commentators identify Orsolya Kovács of Nagy és Trócsányi as a “very knowledgeable, dynamic and bright lawyer who has a very realistic approach to cases.” Kovács has specialist expertise in contentious tax matters, including VAT litigation.

Chambers Europe, 2020

 

Local outfit known for its contentious practice and expertise in VAT. Advises domestic and international clients from a broad range of industries, featuring financial services, food retail and consumer goods. Also experienced in advising corporate entities on the tax consequences of product distribution. The practice's robust style is underlined by clients, with one telling of its "excellent performance with tax-related issues," adding: "The firm is very fast." Orsolya Kovács is esteemed by clients for her work in both contentious and advisory cases. Clients highlight her "thorough knowledge" and "precise document editing." Another source highlights that she is "proactive, client-oriented and has in-depth expertise" Péter Nagy represents clients in contentious tax cases, and is recognised as "a very strong name" in dispute resolution.

Chambers Europe, 2019

 

 

Banking and finance

 

Nagy és Trócsányi Ügyvédi Iroda is a prominent boutique practice offering expertise in a range of financial transactions, notably in relation to global and regional syndicated lending facilities. It has a strong profile among international clients, for whom it handles the Hungarian law aspects of cross-border lending facilities and restructurings. Also notable is that the team advises on the finance aspects of corporate transactions and real estate matters. György Kiszely is the key figure for financings and regulatory work. Zoltán Varga is recommended for leasing and work-out transactions, as well as regulatory issues and anti-money laundering matters.

Legal 500, 2021

 

Nagy és Trócsányi Ügyvédi Iroda has expertise in transactional and regulatory matters, and has notable strength in acting for financial institutions in contentious matters. György Kiszely focuses on financing and regulatory mandates, and Zoltán Varga recently represented a bank in a personal data transfer dispute pertaining to a non-performing loan.

Legal 500, 2020

 

Nagy és Trócsányi Ügyvédi Iroda handles a range of banking, finance, regulatory, M&A issues and disputes for OTP Bank and provides regulatory advice to the Hungarian subsidiary of Raiffeisen Zentralbank Österreich. György Kiszely heads the team and is ably supported by Zoltán Varga.

Legal 500, 2019

 

"Excellent service, prompt responses and efficient."

“The firm is very quick and helpful in answering questions. They provide good quality of services and are very reasonably prices”

IFLR 1000, 2021

 

The Nagy & Trócsányi Law Library contains over 4,000 legal books and periodicals, as well as a CD-ROM library.
The Library specializes in international business law and provides on-line access to the major legal databases in Hungary, and worldwide.

It has been developed primarily to serve our attorneys' professional work, however, it is made available to external Budapest attorneys for on-site research (the usage of the CD-ROM library and on-line databases by outside attorneys might be subject to publishers' restrictions).

The Library has been lending books and periodicals to other law firms since 1994. Requests are also accepted from academic and legal libraries that make their own material available through inter-library lending.

For catalog research and further inquiries about the Library please contact our librarian, Ms. Zsófia Horváth at horvath [.] zsofia [at] nt [.] hu.