法律研究

Pin it on the auditor!

One of the requirements for tort under Austrian law is a certain nexus between action and damage. In a recent decision, the Austrian Supreme Court (OGH) relaxed this prerequisite. It held that an qualified auditors opinion does not need to directly cause damages to investors. Where such qualified auditors opinion is wrong and hence increases the risks for investors, such increase alone can already make the auditor liable for damage caused to an investor. (8Ob93/14f)

2015年10月18日

No signature required

As a general rule, Austrian law requires that agreements to arbitrate must either be in the form of a signed document or included in exchangeds letters. The Austrian Supreme Court (OGH) clarified that an exchange of letters – via telefax – is an equal option and that such exchanged letters do not need to be signed; what’s important is that the respective issuers are identifiable. The OGH also stated that the technological means by which the letters are exchanged are generally irrelevant. (18OCg1/15v)

2015年10月10日