Limitation To The End Of The Year 2011 (Statute)

In the meantime, press releases, stating that investors should keep in mind that threatens a limitation of their claims at the end of the year 2011 are piling up. Munich, 14.11.2011 because in the past this issue regularly made the end of the year in the foreground, are investors confused and wondering whether they actually no longer can pursue their claims in 2012. For lawyer Thorsten Krause, partner of the law firm specialising in banking law and capital market law lawyers Cape remains basically run, that after the modernization of the law of obligations to the 1 January 2002 a new Statute of limitations applies. Then, a limitation of the claims occurs depends on knowledge. “This means that from the time, from which the investors knew or should have known that he has claims against, for example, the investment company, the consultant, or the Bank, he has a period of three years, to assert these claims also. It applies a limitation period to the end of the year after the expiry of the three Years”, reports lawyer Krause. What’s now currently being discussed in the press, is the associated also with the amendment of the limitation rules change of the deadline for the so-called absolute Statute of limitations”. Under old law, an absolute limitation of the claims occurred after 30 years.

The 30-year limitation period only in exceptional cases, such as family and inheritance claims or legally established claims, is now after the change in the legal situation of the civil code (short) BGB). Aggrieved investors not subject to basically a 30-year statute of limitations. Rather no. 1 is regulated in the law in 199 ABS. 3 BGB that other claims for damages without regard to the knowing or grossly negligent ignorance in 10 years from their creation to become time-barred. “Every investor must ask therefore, when about incurred by any existing claims against the Fund management company, the consultant, or a bank”, stressed Attorney for banking and capital market law Anja Appelt, partner of the Cape law firm in Munich.

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