Damages can occur at any time, but who will pay for it? Civil liability is a broad and complex matter which is often rooted in contracts, yet can also be based on legal regulations (e.g. traffic accidents, product liability etc.). Situations of liability can occur at any time and to any one in the private or professional life and be caused by unexpected events or by deliberate decisions (guaranteeing or co-signing a loan)
Especially when dealing with banks, consumers are often shy to take action. Yet, this should not be the case, since consumers actually have a much stronger legal position vis-à-vis banks than they assume. Notably changes in legislation originating from European regulations have strengthened the rights of customers. Also, recent court decisions have added to this (e.g. illegality of loans being co-signed by spouses). Moreover, the relevance of investor rights have increased significantly. The rapid growth of the financial services sector causes more and more cases in which investors are not adequately informed or even mislead regarding critical circumstances of the investment. More often than not, investors are not aware that investment providers have strict duties in regards to information and advice they must provide to their customers. Therefore, lost money must not be simply written off. You should seek competent legal advice if you have the feeling that you have not been adequately informed about risks of an investment opportunity.
Leander J. Gast Attorneys at law
Berlin: Schumannstr. 18 | 10117 Berlin-Mitte | Phone: 030 240 47 66 | Fax: 030 240 476 71
Hamburg - since June 2013: Neuer Wall 10 | Ecke Jungfernstieg | 20354 Hamburg
Fon: 040 822 15 - 31 03 | Fax: 040 822 15 - 34 91