Banks liable for hidden commissions

Wednesday, 26.09.2007
The Federal Supreme Court has ruled: Banks owe in closed participation unsolicited a customer information if the acquisition price is almost twice as high as the value of the investment due to hidden commissions. The financing bank is obliged to provide information if it is aware that further commissions are paid in addition to the sales costs stated in the prospectus. Because thereby the investor is deceived over the Werthaltigkeit of the fund portion, so Dr. Johannes Fiala, attorney from Munich. This also applies to payments via third parties, such as a founding shareholder of the fund, if these hidden commissions affect the value of the capital investment and are ultimately included in other costs for the use of funds (Case No.: XI ZR 243/05).
(marktundmittelstand.de (26.09.2007))
Courtesy ofwww.marktundmittelstand.de.

Our office in Munich

You will find our office at Fasolt-Strasse 7 in Munich, very close to Schloss Nymphenburg. Our team consists of highly motivated attorneys who are available for all the needs of our clients. In special cases, our law firm cooperates with selected experts to represent your interests in the best possible way.


About the author

Dr. Johannes Fiala Dr. Johannes Fiala

Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
»More about Dr. Johannes Fiala

On these pages, Dr. Fiala provides information on current legal and economic topics as well as on current political changes that are of social and/or corporate relevance.

Arrange your personal appointment with us.

Make an appointment / call back service

You are already receiving legal advice and would like a second opinion? In this case please contact Dr. Fiala directly via the following link.

Obtain a second legal opinion

The first telephone call about your request is free of charge.