Why there is often no justified interest in premature termination of the contract When selling real estate, the bank loans are usually repaid by the seller so that the property can be transferred unencumbered in the land register – with the existing encumbrances, the property would normally be unsaleable. The repayment of the loans […]
Chance of multiple profit – but also private bankruptcy risk ! (at the same time with reference to the new BGH ruling on consultant liability, V ZR 402/99) The original case: Dr. Peter Fleißig, a physician with a successful practice, 45 years old, one wife, two children, is informed by his financial […]
If managing directors and senior executives have been promised their company pension scheme(bAV) as a pension commitment or direct commitment, in the vast majority of cases the existing reinsurance assets are not sufficient to fully finance the retirement benefits. Insofar as reinsurance – e.g. as life insurance or investment funds – are available, employers think […]
Why additional private provision is no guarantee of good care in old age In Germany there are currently 2.5 million people in need of long-term care. About 70% are cared for at home. The benefits of the statutory long-term care insurance in Germany are mostly at the level of a partial cover insurance. Better […]
– How compulsory contributions and publicity of data are used for self-promotion -. Obligation to disclose the list of members The Federal Court of Justice (BGH) ordered the Pensions-Sicherungs-Verein auf Gegenseitigkeit (PSVaG) to disclose the list of its approximately 92,500 members (judgment of 23 April 2013, Case No. II ZR 161/11). Sufficient for […]
According to the ruling, employers are liable if an occupational pension provider – such as a pension fund – reduces its benefits in accordance with its statutes. As a result of the continuing low level of interest rates, virtually every employer with occupational pension commitments will soon have to reckon with this. What specific risks […]
New ruling of the Federal Court of Justice facilitates the release from loan debts It is part of everyday life at credit institutions to enable customers to make larger investments by providing them with a large part of the money required for an investment in the form of a loan. As a rule, these are […]
“Under communism, banks are nationalized and then go bust, under capitalism, banks go bust and then are nationalized.”(Christine Lagarde) First German subprime crisis due to junk real estate and interest rate bets Since the end of the 1980s, not only the legal predecessor group of Hypo Real Estate Holding AG (HRE) has been piling up […]
Time and again, investors have fallen for “non-binding annuity forecasts” from life insurance companies – the agent and the advertising material of some companies suggest dream returns of, for example, 12.9 percent or even 31.2 percent to the customer, especially in the case of British policies. At times, clear warnings that such returns are not […]
Life insurance as a bet on lower surpluses or insolvency. Even if the banks are rescued by the state, the life insurers may have to pay for it with their own insolvency. At the very least, however, there is a threat of a reduction in surpluses and thus a lower pension provision for privately insured […]
