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Schima Mayer Starlinger | Austria | 27 Jul 2021

Are surcharges for PayPal or instant transfer still unlawful under Austrian law?

In Austria, payees are not permitted to charge fees for the use of a specific payment instrument. The German Supreme Court recently held that a payer and a payee may validly agree that a charge may be levied by the payee for the use of PayPal or instant transfer service. This article considers whether this decision could also allow for charges to be levied by Austrian payees.
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Schima Mayer Starlinger | Austria | 27 Apr 2021

Multiple assignments of future receivables

The Supreme Court recently addressed the effects of an agreed sale of a plot of land on the security assignment of the future receivables under the lease agreement regarding such plot. It broadly upheld its previous jurisprudence and confirmed that in cases of security assignments of future receivables, where the agreement on the assignment has already been completed, the receivable will......
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Schima Mayer Starlinger | Austria | 12 Mar 2021

Dominance in Austria

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Schima Mayer Starlinger | Austria | 16 Feb 2021

Gas Regulation in Austria

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Schima Mayer Starlinger | Austria | 19 Jan 2021

Eye-catching decision on advertising of consumer loans

The Supreme Court recently had to decide whether ads for consumer loans which stated a monthly rate in the main text and a debit interest rate "from... % p.a." depending on creditworthiness, together with an example in the footnote text, complied with the Consumer Credit Act. The court held that the requirement that certain information be presented in a clear, concise and prominent way is not......
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Schima Mayer Starlinger | Austria, European Union | 24 Nov 2020

Oops, I did it again: Austrian banks' terms and conditions and PSD II

The European Court of Justice (ECJ) recently responded to the Supreme Court's request for a preliminary ruling and issued a decision with respect to a dispute concerning the standard terms and conditions of Deniz Bank. The ECJ also addressed an additional issue relating to the relationship between Article 52(6)(a) of the EU Payment Services Directive on tacit consent and the EU Unfair......
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Schima Mayer Starlinger | Austria | 6 Oct 2020

Legislative moratoria on loan repayments – are certain SMEs more equal than others?

The outbreak of COVID-19 triggered various response measures across the globe. Among other measures, the Austrian legislature, similar to other European countries, has implemented a moratorium on payments of credit obligations to support operational and liquidity challenges faced by borrowers due to the pandemic. Contrary to, for example, Germany, the Austrian legislature has included, in......
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Schima Mayer Starlinger | Austria | 14 Jul 2020

COVID-19 pandemic and banking in Austria – lessons learned?

A significant part of Austria's COVID-19 subsidy programme was structured as government guarantees for bridging loans to be granted by banks to provide the economy with liquidity. Now, less than three months after the start of the programme, small and medium-sized enterprises regard this approach as disastrous, with many complaining that the granting of loans has been slow and cumbersome,......
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Schima Mayer Starlinger | Austria | 13 Mar 2020

Failing banks – first application of new deposit guarantee scheme

An insolvency proceeding was recently opened for the assets of Anglo Austrian AAB AG. This was the last step in a long-lasting dispute between the bank and Austrian and EU regulators, leading to the revocation of the bank's licence. This case is notable because it is the first application of the newly enacted deposit guarantee scheme and was expected to be the first application of the......
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Schima Mayer Starlinger | Austria, European Union | 24 Jan 2020

No worms for early birds? Lexitor and Austrian implementation of EU Consumer Credit Directive

Considering the obvious conflict with European Court of Justice case law, the Austrian legislature's aim to fully implement the EU Consumer Credit Directive and the Austrian Consumer Credit Act's intended (but directive-breaching) effects consumers, legal advisers and the courts are now confronted with the delicate question of how consumer requests for repayment should be dealt with.
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