The Vienna Higher Regional Court has declared 48 clauses in the General Terms and Conditions (GTC) of the Swiss company Hapimag AG to be inadmissible.
The Association for Consumer Information (VKI) had challenged the company's timeshare contracts because of these provisions. The court ruled that consumer rights also apply when customers are formally made shareholders by purchasing shares. The clauses in question, which concern, among other things, the transfer of shares and the withdrawal from contracts, were classified as non-transparent and inadmissible. The ruling is not yet legally binding.
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