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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
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