Re: VW 13/2013, Company & Markets, Health Miscounseling: In about 90 pension schemes, also called Versorgungskammer, chambered professionals regularly become compulsory members. Their entitlements to funded pensions have already fallen sharply compared with earlier commitments and will have to fall further if interest rates remain low. It would be a mistake to rely solely on […]
Artikel zum Thema: Incorrect advice
Higher Regional Courts of Karslruhe and Stuttgart sentence insurance companies
When insurance companies are liable alongside brokers for misadvice on pensions Insurance companies are liable in the event of advice errors by insurance brokers By judgments of the Karlsruhe Higher Regional Court (OLG) of 02.08.2011 (Case No. 12 U 173/10) and Saarbrücken Higher Regional Court of 04.05.2011 (Case No. 5 U 502/10-76), insurance companies […]
Life insurance: Reversal made easier
Millions of investors trust their bank advisors and insurance brokers. The risk that the investment decision turns out to be wrong is borne by the client. However, the prerequisite for this is that the advice given to the customer was sufficient. However, many advisors are unable to do this because they have not even read […]
bAV: Zillmerisation in the case of deferred compensation inadmissible
Billion-dollar liability for employers, intermediaries and providers – employers successfully sued over company pension scheme. A few days before the oral proceedings (Case No. 3 AZR 376/07) before the Federal Labour Court (Bundesarbeitsgericht – BAG), the employer sued apparently recognised the hopelessness of its appeal. The decision of the Munich Regional Labor Court (LAG) of […]
Money abroad: When world income and world assets are taxable here
Do foreign financial advisors systematically induce tax evasion? Assets abroad – tax liability in Germany If you move your money abroad, for example to an Austrian private foundation or a Liechtenstein family foundation, you can by no means be sure that the world income principle will not force you to declare it in Austria. […]
Real estate financing: losses in the millions after financing and insurance advice
A previously unpublished judgement of the OLG Munich (file no. 20 U 4956/06), – because of decision on the non-acceptance appeal at the BGH (file no. 1/1 ZR 288/07 of 18.12.2008) legally binding -, proves the misadvice by insurance brokers in the financing even of million-dollar projects. DM 110 million construction financing with life […]
Public liability using the example of the Love Parade coverage gap
What entrepreneurs can learn from this for their own liability insurance 7.5 mi. Euro sum insured – instead of the usual 100 million minimum cover The Love Parade disaster in Duisburg after a mass panic was insured at an astonishingly low level. The amount of cover provided by the organiser’s liability insurance is obviously […]
High return, no risk, zero cost, lots of trust
Dr. Johannes Fiala and Dipl.-Math. Peter A. Schramm on the pre-programmed investor bankruptcy An 80-year-old business widow appears at the bank counter with her savings book. “Young man, I want to take off”. Upon further inquiry, “Everything!”. She didn’t care about the interest on advances. Fifteen minutes later, she returns to the checkout counter. […]
prevent tax fraud
Investing money abroad could tempt people to break the law MUNICH – Whoever moves his money abroad, for example into an Austrian private foundation or a Liechtenstein family foundation, can by no means be sure that the world income principle does not force him to declare it in Germany. Foreign investment opportunities could downright […]
Professional asset destruction – by product sellers in private banking
– How the wealthy and the very wealthy get ripped off by the bank(st)er -. It is not only the financial crisis that motivates wealthy investors to change banks or asset managers every three years or so. Client disappointment with investment banking product salespeople runs deep? Uncertainty and doubts about competence, but also the fear […]