Admitted to the Bar:
University of Vienna (Mag. iur. 1992, Dr. iur. 1997)
Author of articles in the fields of civil, corporate and antitrust law, monograph "Kapitalerhöhung durch Verrechnung von Gesellschafterforderungen".
The Supreme Court recently considered the validity of the payment of a cash consideration to a public limited liability company in the course of an increase in its stated capital. The ruling highlights that business transactions that have a substantive and temporal connection with a formal increase of the stated capital must be made under the disclosure and examination rules for contributions in kind.
Until 2018, Austria had up to five different cancellation rights for insurance policyholders, plus the cancellation right pursuant to Section 8 of the Distance Financial Services Act. Thus, the legal situation was confusing. However, this has finally changed. Since 1 January 2019, a new Section 5c of the Insurance Contract Act provides for one unified cancellation right.