Dispute Resolution in Austria

The Dispute Resolution Review, 2011
2011, March 1
Dispute resolution practices have seen the impact of the financial crisis in recent years globally – Austria is no exception. Many companies and wealthy individuals suffered significant losses and are now seeking compensation. There are more than 12,000 cases pending at the Vienna Commercial Court alone, most of them directly connected
with unsuccessful investments or business dealings. Although additional judges were appointed to the Vienna Commercial Court, a judge still has to deal with more than 350 cases, which has lead to extended waits between hearings.

A large number of suits has been brought dealing with the adequacy of information to be provided to investors. There are more expected,many of them resulting from insights gained during criminal investigations. Another field of increased court activity is criminal and civil cases dealing with directors and officers liability. The outcome of these cases is likely to influence the future decision-making process and corporate governance of Austrian companies.

For international commercial arbitration, Vienna will continue to be an attractive venue, in particular for disputes relating to the Central European region.

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