January 2022 – Austria – TAIYO Legal The Austrian Constitutional Court ruled that the Republic of Austria is not liable for damages suffered by customers of an insolvent bank even if these damages were caused by poor supervision by an authority. Around 30 customers of Commerzialbank Mattersburg had filed for damages against the federal government.
Characteristics of a closed-end real estate fund are a limited investment volume, a few investment objects, long terms, and very limited exit options. The Austrian Constitutional Court (VfGH) confirmed that if consumers do not receive any investor confirmation or receive an incomplete one, there is an unlimited right of withdrawal; the relevant provisions in the
The Austrian Takeover Commission is an independent authority, not subject to directives, established at the Vienna Stock Exchange. In accordance with the Austrian Takeover Act, it reviews major transactions on the capital market. However, the European Court of Justice sees a lack of legal protection in the current legal situation. The Austrian Takeover Commission is
