Warranty and compensation law

Warranty is the strict liability for defects in a service or item at the time of delivery or transfer. The Law of Compensation stipulates when an injured party is entitled to compensation for damage. A claim for compensation may arise from a contract or a tort. In particular in regard to sports and leisure accidents, medical malpractice, duties of care, traffic accidents or physical injuries (damages for pain and suffering) a detailed body of case law has evolved.

To secure your claims out of warranty and for compensation, we provide assistance in the drafting of national and international contracts and in the implementation of such contracts, and also represent your interests in court in the event of a dispute.

D&O liability

The establishment of a limited liability company to carry on your business offers many benefits, in particular in regard to the limitation of liability. On the other hand, a managing director with power of representation is exposed to numerous liability risks. A managing director is liable to his company in accordance with the standard of care of a prudent businessman for the management of the company, irrespective of whether the director is a shareholder or an external manager.

In addition, in the case of an insolvent company, the managing director may incur liability vis-à-vis the creditors of the company, social security carriers and tax authorities. We provide judicial and extrajudicial representation in all of these cases.

Protection of inverstors

Investors are particularly protected against losses of their assessed funds by EU law as well as national provisions. A fund which is fed by securities firms and is under the management of Anlegerentschädigung von Wertpapierfirmen GmbH (AeW) is available to compensate damages. In those cases where a duly performed supervision by the competent authorities of the state would have prevented damages, the Republic of Austria is liable for neglected or insufficient diligent acting of its institutions. The interests of investors are claimed in single trials or in class actions against AeW, other liable institutions and/or the Republic of Austria.

Contact us at here – we will be glad to counsel you.