The Kekvas Have Been Eliminated, the State Can Acquire Shares in 40 Companies
13 Articles
13 Articles
14 public interest asset management foundations (kekva) performing public tasks have ceased to exist without a legal successor. Not a single affected organization registered by the Budapest Metropolitan Court has received a request to continue operating in another foundation form. The assets, rights and obligations of the ceased foundations have been transferred to the state, and the transfer of ownership shares in approximately 40 business comp…
Among them are János Áder's Blue Planet, the Élvonal Foundation, associated with Nobel Prize-winning physicist Ferenc Krausz, and the Mathias Corvinus Collegium Foundation.
Under the regulations allowing for the abolition of the foundations, the assets, rights and obligations of the foundations concerned were transferred to the state.
The assets, rights and obligations of the abolished foundations fell to the state.
The Budapest Metropolitan Court has decided to cancel fourteen public interest asset management foundations that perform public tasks other than higher education. The foundations' assets, obligations and rights have been transferred to the state.
14 public interest trust foundations (kekva) performing public tasks have been dissolved without a legal successor, including the Mathias Corvinus Collegium Foundation, the Blue Planet Climate Protection Foundation, whose former President of the Republic was János Áder, and the Élvonal Cutting-edge Research and Talent Care Foundation, whose chairman of the board of trustees was Nobel Prize-winning physicist Ferenc Krausz, the Metropolitan Court …
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