Schiffs- und Immobilienfonds

Abstract

According to the Austrian Supreme Court a bank can avoid liability for damages even if it had failed to provide information about the internal commission received from the issuer. This is the case if the bank can prove that it would have recommended the investment product even if no commission had been paid for it. In a number of cases the defendant bank was able to prove that the bank employee who had recommended the product had no knowledge about the commission. According to the Vienna Higher Regional Court this is still not enough to free the bank from its liability. The following considerations show that this view is problematic.