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This article is intended to give a short synopsis on the history of the Hungarian privatization, which has not been fully finished yet, but the most important aims however have been accomplished. As this issue is rather a complex one, having also legal and economic nature, one cannot avoid providing a short historical introduction from legal and economic aspects. Therefore the author also outlines the most significant elements of the changes in the system of the Hungarian ownership at the beginning of the 1990s, which can be featured as the transaction from planned economy into market-economy. After the introduction the author describes the most important steps of the Hungarian privatization, which can be summed up as follows: (i) stage of spontaneous privatization (1985-1989); (ii) stage of state-controlled privatization (1990); (iii) stage of state-"directed" privatization (1990-1991); (iv) stage of privatization under the SPA/-programmes (1991-1992); (v) stage of self-privatization (1992-1995); (vi) the "third" regulation of privatization, strategic privatization (1995-). The author also pays attention to the analysis of the relevant legal rules, which are or used to be in effect regulating privatization. The author also highlights that the law of Hungarian privatization cannot be thoroughly studied without taking into consideration the economic goals and economic characteristics of Hungary, as well.

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This study deals with some particular features of commercial arbitration in Austria. The legal framework of arbitration in Austria was changed with an effect of 1st July, 2006, as the Austrian Parliament passed the Schiedsrechts-Änderungsgesetz 2006 in December 2005. This act was proclaimed on the 13th January 2006 and entered into force 1st July in spite of the planned date of 1st January. After having described the significance of arbitration in Austria the author pays special attention to the topic of appointment and challenge of arbitrators. The author compares the rules of the valid Austrian act with the provisions of UNCITRAL Model Law adopted on 21st June, 1985. The author highlights some cases from the legal practice which are considered relevant in the present issue. Finally the author summarizes the provisions of the rules of procedure of International Arbitral Centre of the Austrian Federal Economic Chamber from the point of view of appointment and challenge of arbitrators, which rules have been effective also since 1st July, 2006.

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The present study discusses some important questions on arbitration in Latin-America focusing on the issue of appointment and challenge of arbitrators. The author attempts to describe some characteristic features of arbitration in Latin-America paying particular attention to the impact of the Calvo Doctrine and Calvo Clause. The author also discusses the significance of the so-called compromiso (or in Portuguese: compromisso). The author gives a detailed analysis on the appointment and challenge of arbitrators in the legal system of Argentina, Brazil, Chile and Mexico, highlighting also some leading cases in this issue. The study enumerates some important arbitration institutes in these countries, as well. The author puts emphasis on introducing the legal regulation on arbitration of the foregoing countries taking into consideration the legal tradition, which might have significant influence on the present legislation and legal practice, as well. As the law on arbitration in some of the foregoing countries in many aspects follow the regulations of UNCITRAL Model Law, the author tries to compare the analyzed acts with the UNCITRAL Model Law, which served and serves as a guideline for arbitration law in several countries of Latin America.

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This study deals with the notion of public policy (ordre public) in Swiss international arbitration. The paper analyzes the relevant paragraphs of IPRG, the Swiss Act on Private International Law. Based on legal authorities one can read about the distinction between procedural and substantive public policy in Swiss law. The paper describes several cases, in which the awards of the Court of Arbitration for Sport (Tribunal Arbitral du Sport) were challenged at the Federal Tribunal of Switzerland based on the alleged breach of public policy. The author discusses the question whether there can be a supra-national, universal interpretation of the notion of public policy in Swiss law, which is based on the fundamental legal and moral values of the civilized nations.

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Acta Juridica Hungarica
Authors: Ádám Boóc and András Koltay

Ád´m Boóc, G´bor Hamza: Az európai mag´njog fejlődése. A modern mag´njogi rendszerek kialakul´sa a római jogi hagyom´nyok alapj´n (Trends in the Development of Private Law in Europe. The Role of the Civilian Tradition in the Shaping of Modern Systems of Private Law.) Nemzeti Tankönyvkiadó, Budapest, 2002.; Ád´m Boóc, Francois Gendron: L'interprétation des contrats. Montréal, 2002.; Andr´s Koltay, G´bor Jobb´gyi-Judit Fazekas: Law of contract in Hungary. Kluwer Law International, The Hague-London-New York, 2003. (From the series: International encyclopaedia of laws.)

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