The current significance of Directive (EU) 2022/2555 on cyber resilience (NIS-2), especially for the C-Level, is still underestimated. As a result of the new regulation, there is an immediate need for action here; no further implementing legislation is required in the core areas that concern the responsibility of management bodies. Responsibility and liability for insufficient precautions to avert cyber risks already exist on the basis of the current legal situation. NIS-2 “only” defines the standards of diligence, but in a level of detail that has not been customary at the legislative level.
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On 27 September 2022, ESMA released its report on the DLT pilot regime. The report presents ESMA’s findings from its call for evidence on the question of whether the regulatory technical standards (“RTS”) developed under Regulation (EU) No 600/2014 (“MiFIR”) regarding certain pre- and post-trade and data reporting requirements need to be adapted for securities…
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Supreme Administrative Court has made it clear that the employment of third-country nationals using an RWR card is possible even if a business is still in the process of getting established
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Ratings on portals such as yelp, docfinder, or Google have come to play an important role in everyday business. It is not uncommon for bad reviews to jeopardise the success of an entire company. Concern about abusive or fake and negative reviews has become so great that many businesses would prefer not to appear on rating platforms in the first place.
In two recent cases, the Austrian Supreme Court (Oberster Gerichtshof, OGH) has ruled in favour of rating platforms. In the Lernsieg Ruling (6 Ob 129/21w), the court laid down the criteria by which the admissibility of rating platforms is to be examined and has recently applied these principles in Ruling 6 Ob 198/21t:
Market News
Case law on the formal validity of wills (especially multi-page wills) drafted by third parties, i.e., wills that are not handwritten by will-makers themselves, is becoming more and more substantial. Evidently, the Austrian Supreme Court has been following a strict line since the Inheritance Law Amendment Act of 2015.
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The handling of isolation of suspected cases, positive SARS-CoV-2 tested persons and contacts in companies is handled differently in each case. This article is intended to provide an overview of when to isolate and on how to continue operations. A key element in the containment of the SARS-CoV-2 pandemic is the correct procedure for companies…
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For the second time in a row, Irena Gogl-Hassanin, partner at Benn-Ibler and member of our aviation team, answered the most important questions on Aviation Law in Austria for ICLG . The Austria chapter “Aviation Law 2021 – Austria” can be accessed on the editor’s website free of charge. The publication is divided into five…
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Does a tenant have to pay the rent if the business premises are affected by closures resulting from COVID-19? Two rulings by the Meidling District Court (BG Meidling) provide initial clues on the matter. Initial situation The 2nd COVID-19-Justice Accompanying Act (2. COVID-19-Justiz-Begleitgesetz, 2. COVID-19-JuBG) created regulations on tenancy law in the course of the…
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Dr. Martin R. Geiger and Mag. Irena Gogl-Hassanin contributed the Austrian chapter of the 2021 “Aviation Liability” Guide of Lexology Getting The Deal Through. On 6 ½ pages, you will get a good overview of flight claim management.
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Several recent court decisions deal with shareholder and group loans in times of crisis. Even though shareholders are free to decide whether and when to finance the company, the risk of failure of a restructuring must not be passed on to the company’s other creditors in the event of financial difficulties. Therefore, s. 14 of…
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For the first time in Austria, a court has now confirmed the payment obligation of an insurer under a business interruption insurance policy (BII)
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On 15 July 2020, the Austrian Parliament decided to set up a Regulatory Sandbox, which will enter into force on 1 September 2020. The Sandbox is a supervisory concept designed to enable the testing of innovative business models in line with regulatory requirements. The goals are to promote innovation, strengthen Austria as a business location,…
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In the case Data Protection Commissioner (Ireland) v. Schrems, Facebook Ireland (Case C-311/18; “Schrems II”) the ECJ ruled on 16 July 2020 that the EU-US Privacy Shield is invalid with immediate effect and EU standard contract clauses (SCCs) are valid, but it must also be assessed on a case-by-case basis whether adequate and enforceable rights and…
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In its decision (Ro 2019/04/0229) of 12 May 2020, the Administrative High Court (Verwaltungsgerichtshof, VwGH) clarified that for a fine against a legal entity based on a violation of the GDPR, the names of those natural persons whose violation is attributed to the legal entity must be mentioned both in the prosecution and in the verdict.
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Whether receivables are to be acquired as collateral or otherwise, the question of the applicable law in the case of cross-border assignments or pledges is essential for enforceability. The ECJ clarifies that the Rome I Regulation does not designate the law relevant for third party-effects of assignments.
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Since 15 January 2018, the Economic Owners Register Act (Wirtschaftliches Eigentümer Registergesetz, WiEReG) has been in force. Under this act, beneficial owners of Austrian companies must be identified and entered in a register by means of a notification. However, that is not the end of the story. Changes must be notified within 4 weeks of becoming known. In addition, affected legal entities must also determine at least once a year whether the information in the register is still up to date.
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Establishing an Austrian branch office allows foreign companies to permanently operate in Austria without having to have a subsidiary or affiliated company. This shall provide an overview of the most important required documents and issues to consider.
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Dr. Martin Geiger has written the Austrian chapter of the international guide “Getting The Deal Through: Aviation Finance and Leasing” for the third time in a row.
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Irena Gogl-Hassanin, attorney at law at Benn-Ibler and member of our aviation team, answered some of the most frequently asked questions in the field of aviation law in Austria for ICLG.
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Information for policyholders which states, contrary to the legal situation at the time, that the cancellation of a contract by the policyholder is only possi-ble in writing, does not prevent the starting of the limitation period for the right of cancellation.
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In the present case, the Austrian Data Protection Authority answered in the affirmative the question whether automated license plate recognition for the purpose of billing the use of a parking garage is permissible. The operator of a larger shopping centre (the respondent) provides the use of a parking garage. A camera automatically recorded the registration…
» » Read More » »The Austrian Supreme Court (Oberste Gerichtshof; hereinafter OGH) recently clarified whether the expert opinion of a member of the supervisory board at the expense of a shareholder constitutes an important reason to justify the dismissal of the board member. Pursuant to § 30b (5) Austrian Limited Liability Company Act (Gesetzes über Gesellschaften mit beschränkter Haftung;…
» » Read More » »The Austrian Supreme Court (Oberste Gerichtshof; OGH) recently addressed the question of whether an insult of honour pursuant to § 1330 Austrian General Civil Code (Allgemeines Bürgerliches Gesetzbuch; ABGB) can be justified by the right of shareholders of a stock corporation (Aktiengesellschaft; AG) to information pursuant to § 118 (1) Austrian Stock Corporation Act (Aktiengesetz;…
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The Austrian Supreme Administrative Court (Verwaltungsgerichtshof; hereinafter VwGH) held that the sale of electricity via charging stations and the establishment of such an charging station required for this purpose are not covered by the exemption provision of § 1 (1) No. 20 Austrian Trade Regulation Act 1994 (Gewerbeordnung 1994; GewO 1994) and therefore fall within…
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The European Court of Justice (ECJ) has issued a significant ruling on cookie information obligations of website operators. It ruled that website users must actively check the box themselves. Pre-set consent to cookies is inadmissible. The consent must always be given actively and voluntarily by the website user. A note field is insufficient. Website providers…
» » Read More » »Top News
- Increased Liability Risk as a consequence of new EU cyber security rules
- ESMA Report on the DLT Pilot Regime
- Red-White-Red Card
- Austrian Supreme Court Again Sides with Rating Platforms
- Will-Drafting by Third Parties: Caution
- COVID-19 in the workplace
- Aviation Law 2021 – Austria: New ICLG guide avaiable online
- COVID-19 and rent reduction
- Aviation Liability
- Corporate financing in times of crises
- Business interruption due to COVID-19: first court decision against insurer
- “Regulatory Sandbox” of FMA to support digital change in Austria
- Need for action regarding data transfers in third countries – EU-US Privacy Shield declared invalid by the ECJ
- GDPR Fines for Companies – Austrian Supreme Administrative Court decision
- Recent ECJ decision on cross-border assignments and pledges
- Every year: Annual verification obligation of beneficial owners
- Branch Office in Austria: Checklist
- Aviation Finance and Leasing – Getting The Deal Through
- Aviation Laws and Regulation in Austria – ICLG Online Guide
- Right to cancel life insurance policies may be time-barred despite incorrect information
For the second time in a row, Irena Gogl-Hassanin, partner at Benn-Ibler and member of our aviation team, answered the most important questions on Aviation Law in Austria for ICLG . The Austria chapter “Aviation Law 2021 – Austria” can be accessed on the editor’s website free of charge. The publication is divided into five…
» » Read More » »Firm News
Dr. Martin R. Geiger and Mag. Irena Gogl-Hassanin contributed the Austrian chapter of the 2021 “Aviation Liability” Guide of Lexology Getting The Deal Through. On 6 ½ pages, you will get a good overview of flight claim management.
» » Read More » »Dr. Martin Geiger has written the Austrian chapter of the international guide “Getting The Deal Through: Aviation Finance and Leasing” for the third time in a row.
» » Read More » »Irena Gogl-Hassanin, attorney at law at Benn-Ibler and member of our aviation team, answered some of the most frequently asked questions in the field of aviation law in Austria for ICLG.
» » Read More » »