Usancen Blog
Proposed Communication Platforms Act, Part 1: Internet platforms to be obliged to immediately delete illegal content
Public LawThe draft for a Communication Platforms Act (Kommunikationsplattformen-Gesetz, KoPl-G) is intended to make providers of communication platforms (e.g. Facebook, Instagram, TikTok) more accountable for the removal or blocking of illegal content. The la...
BFG: The classification of a "surety" and "guarantee" under civil law - essential differences also in the assessment of legal fees
Tax LawIn a lease agreement concluded between the plaintiff and the leaseholder, a contractual clause was inserted. According to this, a guarantor guarantees the leaseholder that he will be liable for his payment obligations should he fail to meet them desp...
ESMA sees high risk of decoupling of the financial market from the underlying economic activity
In the course of the publication of the "Trends, Risks and Vulnerabilities (TRV) Report of 2020" the European Securities and Markets Authority (ESMA) commented on the effects of the COVID-19 crisis on the markets. In particular, it underlined the ris...
OGH on the prohibited return of capital contributions within a group
Corporate LawIn its present ruling, the Austrian Supreme Court (Oberster Gerichtshof, OGH) confirmed its case law on the prohibition on the return of capital contributions. The capital maintenance regulations of the Austrian Act on Limited Liability Companies (Gm...
OGH on the admissibility of provisions in the corporate balance sheet
Corporate LawRecently, the Austrian Supreme Court (Oberster Gerichtshof, OGH) for the first time ruled on the formation of provisions in the annual balance sheet in accordance with the Austrian Commercial Code (Unternehmensgesetzbuch, UGB) for legal costs. In pri...
EU Commission extends EU State aid regulations and carries out adjustments
The European Commission has decided to extend EU State aid regulations, set to expire at the end of 2020, by one to three years and to make adjustments to cushion the impact of COVID-19. The background to these extensions is the aptitude tests carrie...
OGH: Only variable personnel costs are “frustrated” costs and eligible for compensation
The Austrian Supreme Court (Oberster Gerichtshof, OGH) dealt with the question whether frustrated personnel costs are eligible for compensation in addition to loss of earnings. In the present case, an “architecture and engineering contract” exists be...
OGH: On the period of assumption within the meaning of Sec. 924 ABGB and the burden of proof in the case of defects that occur after handover
Civil LawIn the course of a work contract the defendant was commissioned by the plaintiff to manufacture, deliver and install a surveillance system. The handover took place, but only a few days after this and repeatedly thereafter malfunctions occurred. After...
UPDATE: OGH on the problem of interest on remuneration after withdrawal from contract and cases of "substantial" reduction of the claim due to the three-year limitation period
In a number of proceedings, the courts have dealt with the withdrawal from insurance contracts due to failure to provide information about the right of withdrawal. In particular, the question of the interest on remuneration to which the policyholder ...
Fixed cost subsidy will be extended from September
Public LawIn September 2020, the second phase of the fixed cost subsidy will start for companies that suffer COVID-19-related revenue losses. In this context, new guidelines for granting these Phase II subsidies were published. The Fixed Cost Subsidy II (Fixko...
Does § 10 (2) of the Leave Entitlement Act conform to Union law?
The Austrian Supreme Court (OGH) has asked the European Court of Justice (ECJ) for a preliminary ruling on the question of whether § 10 (2) of the Austrian Leave Entitlement Act (Urlaubsgesetz, UrlG) is compatible with Union law. Pursuant to § 10 (1)...
Directives on the granting of subsidies to cover fixed costs by the COVID-19 Finanzierungsagentur des Bundes GmbH (COFAG)
On the 25 May 2020, the regulation of the Federal Minister of Finance pursuant to § 3b (3) of the ABBAG Act (Bundesgesetz über die Einrichtung einer Abbaubeteiligungsaktiengesellschaft des Bundes) concerning guidelines for the granting of subsidies t...
Opinion of the ECB on amendments to the Union prudential framework in response to the COVID-19 pandemic
The European Central Bank (ECB) received a request to submit a proposal for a Regulation of the European Parliament and of the Council amending Regulations (EU) No 575/2013 (Capital Requirements Regulation) and (EU) 2019/876 (Regulation amending the ...
EU sanctions: Commission adopts opinion clarifying the enforcement of financial sanctions
In its statement of 19 June 2020, the European Commission specified how existing financial sanctions are to be interpreted and how to proceed, in particular in the case of the freezing of assets. This statement is intended to provide the competent au...
COVID-19 Loss Allowance Regulation - COVID-19 reserve should allow for operating losses in 2020 to be taken into account in the 2019 assessment
Tax LawA draft of the Regulation on Loss Allowance 2019 and 2018 (COVID-19-Verlustberücksichtigungsverordnung) Allowance Regulation) was sent out by the Federal Ministry of Finance (Bundesministerium für Finanzen, BMF). The purpose of this regulation is to ...
OGH: "Recruitment costs" for retention of employees via a third-party temporary employment agency are inadmissible
The Austrian Supreme Court (Oberster Gerichtshof, OGH) dealt with the permissibility of a clause providing for the replacement of "recruitment costs" in a contract for the leasing of temporary workers. The plaintiff leased employees to the defendant....
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