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Art 83 et seq. of the Regulation (EU) No 2016/679 (hereinafter, the “General Data Protection Regulation” or “GDPR ] provides for severe administrative fines (up to 2% of the total word wide annual turnover) in case of infringement of laws on data protection. Supplementary to the GDPR, Austrian legislation, however,
Pursuit of warranty claims and claims for damages in a construction project not only requires knowledge of the contractual legal framework. In practice, efficient project implementation will first of all depend on the quality of the project organisation. Such already starts with release of the tender documentation which should provide for an as clear as
Whether a burglary is covered under a household insurance depends on the certain qualified circumstances and the conditions of the insurance policy.As an example: the thief stole the apartment key from the insured person’s coat pocket unnoticed, which the accomplices then used to enter the apartment and steal valuables. According to the conditions
The term “cash pooling” refers to a type of cash management within a group of companies, whereby excess liquidity from each of the group companies is usually transferred to a central ‘master account’ of the group parent company. In case of a liquidity shortfall, loans or repayments are effected from
Yes, in a recent case an insolvency administrator successfully sold to an investor for a purchase price of EUR 5,000 the right to contest the insolvent company’s sale of a real estate to the wife of the manager of the insolvent company. The investor then filed a lawsuit against the
In the business sector it is common for companies to fulfill their contractual obligations towards their customers by commissioning subcontractors or agents. These persons are generally liable if they culpably cause damage to property or personal injury. Nevertheless, for several reasons it can be difficult for a customer to collect
In Austria a company with limited liability must have at least one managing director. Thereby, the Austrian Act on Limited Liability Companies (“GmbHG”) provides that managing directors are to be appointed by a shareholder resolution (section 15 GmbHG). However, as the list of issues that can be resolved only in a
Employees have no general right to object to the transfer of their employment, except in cases where the new employer is not willing to guarantee the continuation of already existing company pension schemes or refuses protection against termination of their employment in accordance with those provisions of the collective agreement
Austrian law provides for a two years warranty period as a protection against the delivery of defective movable goods. The provisions on warranty are not mandatory for B2B contracts. Parties can therefore deviate from it and include a waiver for warranties in their B2B contract. However, there are limits to