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Supreme Court of Justice of Austria OGH
Reclaiming Undisclosed Portfolio Commissions: Erste Bank and Sparkassen Reach Agreement with the VKI
Banks have collected so-called trailer fees when brokering fund products - without disclosing these payments to customers. However, according to the current legal situation, such “kick-back payments” are not permitted if they are not made transparent. After lengthy negotiations, the Association for Consumer Information (VKI) has now agreed with Erste Bank Österreich and the savings banks: Those affected can receive a refund.
February 25, 2025
Whistleblower System to Help Clarify the Signa Bankruptcy
The investigation into the insolvency of the Signa real estate empire is progressing. A new whistleblower system is now intended to help bring transparency to complex corporate structures through information from employees and creditors and to reveal previously undiscovered information.
September 11, 2024
EU Commission Expresses Concerns About Austria's Judicial System
In its published rule of law report, the EU Commission expressed several concerns about Austria. In principle, the independence of the Austrian judicial system is highly regarded, the country-specific document states.
July 12, 2023
Oligarch Firtash May Be Extradited to the USA
The Ukrainian oligarch Dmytro Firtash may be extradited from Austria to the USA. The Supreme Court of Justice of Austria (OGH) confirmed a corresponding ruling of the Vienna Higher Regional Court (OLG) and dismissed both a nullity appeal of the General Procurator's Office and a renewal application by Firtash's defense counsel. The decision as to whether Firtash will actually be extradited lies now with the new Austrian Minister of Justice, Clemens Jabloner.
June 25, 2019
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