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20.07.2020 / www.s-law.com

Schwärzler Attorneys at Law - July 2020

New Federal Supreme Court ruling on the requirements for a waiver of retrocession claims

In its ruling of 13.05.2020 (BGer 4A_355/2019), the Federal Supreme Court concretised its case law on the so-called „Retro-Leitentscheid“ No. 2 (BGE 137 III 393) with regard to the requirements for al legally valid advance waiver of retrocessions.

At the time of the approval of the advance waiver in question, the required " basic parameters " of the expected retrocession payments are only known to the customer if the calculation can be based on "certain and concrete" parameters. Otherwise the necessary transparency is lacking and the waiver is not legally valid, which is why the retrocessions received must be surrendered.

You can read the full article here.