KNOETZL

Liability of Managing Directors of a GmbH Reduced by Contributory Negligence of Staff?

If employees make mistakes, to what extent is the managing director liable for the consequences? Under general principles of Austrian law, if the victim (here: the GmbH) of a culpable act also acted negligently, this will proportionally reduce the damages for which the tortfeasor (here: the managing director) can be held liable.  The fall-back rule…

White Collar Crime: Leniency for Voluntary Principal Witnesses

As of 1 January 2017, an interesting amendment of the Austrian Code of Criminal Procedure came into effect. The amendment effectively implements the EU Directive 2013/48/EU, regarding the right of access to a lawyer in criminal proceedings, widens the scope of application of so called “diversion” proceedings, and adds a number of other new regulations.…

Litigation: “Hindsight Bias Affecting Judicial Rulings in Civil Cases“ – featured in Juristische Blätter 139, 2 (2017)

KNOETZL lawyers, Bettina Knötzl, Judith Schacherreiter, and Professor Alexander Schopper in JBl 2017,2: “Der Rückschaufehler bei der richterlichen Urteilsfindung im Schadensprozess”.  (Hindsight Bias Affecting Judicial Rulings in Civil Cases). The human brain is not able to ignore facts that are part of its available knowledge. In liability litigation proceedings judges are required, by law, to…

Investigations: Record Fines for Bribery and Corruption by FCPA are setting new Standards in Compliance

Close-up Of Two Businesspeople Shaking Hands With Money

  Everett Dirksen, a legendary American politician of the last century was often quoted as saying: “a billion here, a billion there, and pretty soon you’re talking about real money.”  Now, beyond quibble, the record fines in bribery and corruption cases – being almost routinely assessed or settled in a growing universe of jurisdictions –…

New Milestone in the Battle against Corruption – ISO 37001:2016

Even in the year 2016, corruption is still a widespread phenomenon affecting not only third world countries but industrialized states as well. According to Transparency International, not a single country in the world is free of corruption. In its introductory sections, ISO 37001:2016 states that corruption causes various problems such as moral, economic and political…