In a recent case, the Supreme Court for Civil Matters had to interpret the Austrian Demerger Act in accordance with a European Directive. The Supreme Court for Civil Matters ruled that the issuer of a bond shall not terminate a legal relationship which is otherwise valid for an indefinite period of time with investors in these bonds. A termination for cause is only available to the issuer, if maintaining the legal relationship is not reasonable for him anymore. (1Ob93/16g)
De-merger is not a good reason to terminate
