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STEPHAN BRIEM  | RECHTSANWALT GmbH

Imperial Kapitalbeteiligungs GmbH & Co KG

 

The Supreme Court of Austria (OGH) has ruled in his sentence from May 29, 2008 (2 Ob 225/07p) that the interdiction of redemption of the capital invested also refers to GmbH & Co KG if the person with unlimited liability is a GmbH. Hereupon Imperial Kapitalbeteiligungs GmbH & Co KG has ceased to pay the agreed interest of 6% of the nominal value of the share. Investors reacted by declaring the immediate termination of the silent business partnership. 

 

Dr. Briem has filed an action in the name of the Austrian Association of Consumer Information (VKI) against Imperial Kapitalbeteiligungs GmbH & Co KG demanding the declarative statement that this extraordinary termination is effective in law. He demanded also the rendering of accounts and payout of the actual share value and the money in the account as well as compensation for the difference between the purchase price of the share and the actual share value by reason of incorrect information concerning the nature of the investment (by the majority in holding of others companies instead of real estate).  


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