Vienna (OTS) – LVA24 Prozessfinanzierung GmbH, together with lawyer Dr. Friedrich Helml, obtain a trend-setting decision: contradicting instructions in the application and the policy lead to incorrect instructions – a pre-contractual error that, according to OGH judgment 7 Ob 146 / 20a of 16.09.2020, cannot be cured even by correct instruction in the policy can. This judgment represents a clarification in the interests of many policyholders.
Despite several fundamentally positive decisions by the European Court of Justice, many policyholders recently found themselves at the mercy of the court’s ruling practice, according to which any incorrect information could be remedied afterwards, when trying to invoke their unlimited right of withdrawal due to incorrect withdrawal instructions from the insurer. provided that correct instruction was subsequently submitted. Now, in accordance with the decisions of the ECJ (in particular C-209/12, as well as in the related cases C 355/18 to C 357/18 and C 479/18), the Supreme Court came to the conclusion that correct instruction was necessary before the contract was concluded that subsequent renovation, for example in the policy, is not sufficient.
Successful revision
“The extremely positive judgment of the Supreme Court followed our revision submissions, according to which contradicting instructions in the application and the policy lead to incorrect instruction and correct instruction in the policy cannot cure the pre-contractual error,” says lawyer Dr. Friedrich Helml, who points the way Decision in a procedure financed by LVA24 Prozessfinanzierung GmbH Helml has been fighting for several years, together with the litigation financier from Vienna, for the rights of policyholders in the area of life insurance.
Next to the policyholder side
For policyholders, this still means an unlimited right of withdrawal. In many cases, this right of withdrawal brings enormous financial advantages as a result of incorrect withdrawal instructions, because: It is not uncommon for the surrender value of the insurance contracts to not even reach the amount of the premiums paid. “We are very pleased that we, as litigation financiers, were able to make a contribution to more transparency and fairness,” said LVA24 managing director Christian Schauer, delighted with this far-reaching decision.
Information and details about Helml Rechtsanwälte at: www.h-recht.at
More information about LVA24 at: https://lva24.at/at/
Inquiries & contact:
LVA24 Litigation Financing GmbH
Faradaygasse 6
A-1030 Vienna
Tel.: +43 (0) 810 95 98 08
E-Mail: office@lva24.at
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