Fraud or embezzlement? In its ruling of 16.03.2011 (Ref. 9 U 129/10), the Higher Regional Court of Stuttgart very clearly points out that employees and board members can be guilty of breach of trust or fraud if they withhold kickbacks, retrocessions or refunds from their own customers. The court clarified that it is the task […]
Artikel zum Thema: Investment
Insurance and financial brokers are liable for debts and disadvantages
Life insurance and fixed credit A judgment of the Regional Court of Izehoe dated 29. 1. 2009 (Case No. 7 O 27/09) demonstrates a typical course of events in financing and insurance brokerage. The plaintiff had financed the construction of his house. His insurance and finance broker had arranged a so-called bullet loan, which was […]
False advice: In the case of real estate financing with life insurance
Insurance and finance brokers liable for residual debt, or interest disadvantage? Life Insurance and Fixed Loan: A judgment of the Regional Court of Izehoe dated 29.01.2009 (Case No. 7 O 27/09) demonstrates a typical course of events in financing and insurance brokerage. The plaintiff had financed the construction of his house. His insurance and […]
Destruction of existence through loan termination?
How bank customers can protect themselves Economically, financing often only makes sense if the money is invested profitably, i.e. the borrowing costs are lower than the return on the investment. But even if this is the plan, credit customers are repeatedly lured into financing traps. Then loan termination and destruction of existence are just […]
Important points when taking out loans – beware of pitfalls
From an economic point of view, financing only makes sense if the money is invested profitably, i.e. the borrowing costs are lower than the return on the investment. But even if this is the plan, credit customers are repeatedly lured into financing traps. Dr. Johannes Fiala, lawyer, and expert Peter A. Schramm, Munich, have compiled […]
Riester subsidy calculator – guessing instead of advising?
For a long time, financial service providers have been committed to providing information to their potential customers – especially when it comes to the topic of old-age provision. This is good and gratifying. But what does the practice look like? In order to find this out, around 50 Riester subsidy calculators were examined as […]
Company pension scheme: Early termination of insurance contracts in the event of a change of employer
By Dr. Johannes Fiala and Thomas Keppel Reader A. S. asks: In the July 2007 issue of BC, I read with great interest the article on occupational pension provision and the employer’s obligation to offset losses in the case of deferred compensation. Subsequently, I invited our insurance agent for a discussion. He informed me, among […]
IRR return method: reinvestment premise and liability risks
Investment advice for closed-end funds using the IRR return method as the key return indicator. I. IRR advice by the bank and triggering liability reasons In one of the most recent judgements of the LG Munich, a bank was sentenced to pay damages because a bank director had, among other things, used the IRR […]
Occupational pension schemes: U-funds without insolvency protection, up to 25 billion euros employer liability
by Johannes Fiala, Lawyer (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) The case ?XXX U-Kasse?: Once upon a time there was a U-Kasse in Ratingen, today you can only find the insolvency administrator on the Internet who is winding up this U-Kasse. The case went through […]
Decided cases
The Haustürwiderrufsgesetz offers the possibility to the person concerned still after years to separate from unprofitable investments. This frees up liquidity that can then be invested more sensibly. The applicability of the doorstep-selling revocation statute requires that the situation be a doorstep situation. This is understood to mean, -an unsolicited visit to a private […]