By subject ' Liability Newsletter '
31 October 2008The real estate broker's duty to discover a housing company's forthcoming renovations in Finland
Liability Newsletter 2/2008.
The majority of the buildings of housing companies were built in the 1960s and 1970s, which means that a massive peak in the need for renovation is at hand in the near future. Pipe and facade structure renovations and their costs are additional issues to which real estate brokers need to pay attention. Fulfilling the duty to discover and disclose requires that real estate brokers familiarise themselves with future renovations and their estimated costs. The sales brochure must include the housing company's decisions on, or otherwise definitely known, major repair work and modernisation projects of the building or apartment, as well as an estimate of the schedule for the work and the resulting costs to the buyer.
16 January 2008Environmental Liability & Insurance
Liability Newsletter 1/2008.
The EC Directive on Environmental Liability with regard to the Prevention and Remedying of Environmental Damage (Environmental Liability Directive, ELD) came into force in April 2004. The member states were expected to enforce the ELD with effect from April 30, 2007. The directive doesn't have any retrospective effect.
11 June 2007Class Action status in the Nordic Countries
Liability Newsletter 3/2007.
Enactment of class action legislation is currently being discussed in several European countries. Class action refers to litigation wherein the plaintiff litigates for the benefit of a group without any express assignment from the members of the group in such a manner that the court decision passed in the case is binding on all group members.
29 March 2007Finland’s New Companies Act – Any Changes in Management Liabilities?
Liability Newsletter 2/2007.
The new Companies Act came into force on 1 September 2006. Nearly 30 years had passed since the last reform of the law, and it was no longer possible to patch up the old law to meet the social and economic changes that have occurred since then. The law was completely re-written. The goals defined for this reform include a flexible and competitive law and the possibility to offer sufficient protection to minority shareholders and creditors.
1 March 2007Intermediary Liability in an "Eggshell"
Liability Newsletter 1/2007.
In 1998 two Danish consumers bought eggs from a retailer. The eggs carried salmonella bacteria and caused salmonella poisoning. The consumers brought an action in tort against the retailer, who then joined the producer in the proceedings. The Danish product liability legislation differed from the EU-Court’s interpretation of Directive 85/374/EEC and had to be amended to comply with the judgement. What are the intermediary liabilities under the Norwegian, Finnish and Swedish laws?