Katrin Hanschitz

Recent amendments to the Austrian Anti-Trust Act in May 2017 aim to enhance private enforcement.

What has changed? In short:

• improved access to confidential information for claimants / new disclosure rules
• presumption that the cartel caused harm
• passing-on defence effective / preferential treatment for claims from indirect purchasers,
• longer limitation period.

For further details, please use the above link.

If employees make mistakes, to what extent is the managing director liable for the consequences?

Under general principles of Austrian law, if the victim (here: the GmbH) of a culpable act also acted negligently, this will proportionally reduce the damages for which the tortfeasor (here: the managing director) can be held liable. The fall-back rule is 1:1 (applicable where no more precise indicator of appropriate proportionality is available). This is termed “Mitverschulden” or… Mehr anzeigen

If employees make mistakes, to what extent is the managing director liable for the consequences?

Under general principles of Austrian law, if the victim (here: the GmbH) of a culpable act also acted negligently, this will proportionally reduce the damages for which the tortfeasor (here: the managing director) can be held liable. The fall-back rule is 1:1 (applicable where no more precise indicator of appropriate proportionality is available). This is termed “Mitverschulden” or “contributory negligence”.

If an employee of a GmbH acts negligently and the managing director culpably fails to correct that mistake, will the employee’s mistake be attributed to the company, and thus reduce the director’s liability to the company? The Austrian Supreme Court recently took the opportunity to clarify this issue Weniger anzeigen

The Austrian Supreme Court maintains its controversial protection of limited partnerships, and in particular their creditors, via the analogous application of the capital maintenance rules and the direct liability of the general partner's directors to the GmbH & Co KG.

How has the Austrian Supreme Court interpreted the new rules on Director's Liability and how will this ruling affect not only the "classic" corporate entities but also foundations and "Stiftungsvorstände"

Business decisions that seem reasonable when taken may turn out to have unexpected, possibly even disastrous consequences. In the aftermath, courts may be called upon to review - with the "benefit" of hindsight - whether the board members are liable for resulting damages. In many situations there is, howver, not necessarily a "right" and a "wrong" decision; indeed, often arguments can be made for several alternative or even conflicting decisions. So are the managing directors and supervisory… Mehr anzeigen

Business decisions that seem reasonable when taken may turn out to have unexpected, possibly even disastrous consequences. In the aftermath, courts may be called upon to review - with the "benefit" of hindsight - whether the board members are liable for resulting damages. In many situations there is, howver, not necessarily a "right" and a "wrong" decision; indeed, often arguments can be made for several alternative or even conflicting decisions. So are the managing directors and supervisory board members personally liable for losses caused by decisions that proved negative for the company? Are the (civil) courts allowed to question the content of these business decisions? The answer under the business judgement rule ("BJR") that has recently been formally introduced into Austiran law is; not if the board members adhere to the set of rules governing the decision-making process. Weniger anzeigen

Der Oberste Gerichtshof lässt durchblicken, welche Haftungsregeln er bei Kartellen anlegen möchte: So können alle Teilnehmer für den Gesamtschaden zur Kasse gebeten werden.

When is a fact sheet also a prospectus? The Austrian Supreme Court (9 Ob 38/14z) has clarified that if the fact sheet contains information on the business model, the investment, its potential, its yield (incl. financial indicators and operative figures) and an indication of the investment risks, it will generally qualify as a prospectus and lead to general civil prospectus liability.

Some of the most innovative practitioners and academics from both sides of the Atlantic gathered at the ABA International Section Life Sciences Conference in Copenhagen this week to exchange ideas and news on developments in the life sciences business and to grapple with the legal challenges facing competitors and practitioners in the industry,. Amongst them was KNOETZL‘s litigation partner, Katrin Hanschitz, Co-Chair of the ABA International Life Sciences and Health Law Committee.

The… Mehr anzeigen

Some of the most innovative practitioners and academics from both sides of the Atlantic gathered at the ABA International Section Life Sciences Conference in Copenhagen this week to exchange ideas and news on developments in the life sciences business and to grapple with the legal challenges facing competitors and practitioners in the industry,. Amongst them was KNOETZL‘s litigation partner, Katrin Hanschitz, Co-Chair of the ABA International Life Sciences and Health Law Committee.

The legal issues arising from rapidly-evolving technological advancements – including next-generation sequencing, wearable and regenerative implanted health care devices, breakthroughs in gene and immunotherapy, the use of real-world evidence (RWE), data analytics, blockchain and AI as well as the the increasing interconnectedness of electronic devices – dominated the discussions. In view of the global nature of the business, litigators and in-house counsel considered the sophisticated litigation strategy pharmaceuticals need to put in place well in advance in order to cope with potentially concurrent product liability, patent, regulatory and, in a worst case scenario, criminal proceedings in multiple jurisdictions.

Heated discussions ensued, both on and off the panels, spurred on by many complex and thorny ethical and social responsibility issues: How much data protection is enough? How much incentive is required in the form of patent and exclusivity protection to drive R&D? Should first-to-market generics and biosimilars receive market protection? And one particularly pointed question was posed in the title of one panel: “Who lives, who dies, who receives treatment and who gets to decide?“

While more questions were raised than answers found, the conference enhanced the participants understanding on how these issues are affecting the life sciences industry and life sciences litigation around the globe. Weniger anzeigen