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Posts tagged #executive board

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Austrian OGH: Executive Board Contracts Terminable Without Notice

Civil Law 

In a notable appellate decision, the Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) addressed the issue of whether an executive board contract could be subject to immediate termination without notice upon the supervisory board’s disco...

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OGH on the liability of a dual function holder within a group

Corporate Law 

If the obligatory approval of the supervisory board is not obtained when a letter of comfort is issued by the executive board of the subsidiary, the managing director is then directly liable to the parent company if he also serves on the executive bo...

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