Constantia Privatbank May Be Held Liable For AWD's Actions Again

With regard to investor's claims for damages plenty of new decisions have been rendered over the last few days. The Commercial Court in Vienna has now made its opinion regarding the disputed issue of attribution of a third adviser to the bank for incorrect investment advices.

The Austrian High Court of Justice had already given his view on that subject before. However, in the course of proceedings at the Commercial Court some details emerged about the close relationship between AWD (now Swiss Life Select) and Immofinanz. The particular case concerns a couple suing Aviso Zeta AG (former Constantia Privatbank AG) for investor's damages after a settlement had been reached with AWD regarding damages suffered from its incorrect investment advices.