Sample quality applications do not suspend the statute of limitations!

On June 18, 2015, the Federal Court of Justice (BGH) ruled that pre-formulated model conciliation applications are not suitable for suspending the statute of limitations. In four similar cases (III ZR 189/14, 191/14, 198/14 and 227/14), the BGH confirmed the decisions of the Celle Court of Appeal and specified the requirements for conciliation applications to suspend the limitation period in the event of incorrect investment advice.

Accordingly, an application for conciliation suspends the limitation period for claims due to incorrect investment advice in accordance with Section 204 (1) No. 4 BGB if the following conditions are met:

• the specific capital investment must be designated,
• the subscription amount must be stated,
• the (approximate) consultation period must be specified,
• the course of the consultation must be at least roughly outlined and
• the objective of the proceedings must be described at least to the extent that the opposing party and the conciliation office are able to draw conclusions as to the nature and scope of the claim being pursued.

The lawsuits filed by the aggrieved investors were each based on conciliatory motions with identical content ( see CenaCom press release dated June 14, 2015), which were made available to a wide audience by a law firm. As soon as the reasons for the decision are published, we will report again here.

Press release from the press office of the BGH dated June 18, 2015, No. 100/2015