Federal Court of Justice: Conditions for an unavoidable error of law in the case of a failed capital investment
In a new ruling dated March 20, 2025 (III ZR 261/23), which is also significant for the liability of lawyers, the Federal Court of Justice (BGH) dealt with the requirements for an unavoidable error of prohibition in cases in which the defendant provider of a capital investment has its investment model redesigned by a specialist lawyer for banking and capital market law due to criminal investigations. If the legal advice can be considered reliable under the circumstances, it is not generally necessary to obtain a written expert opinion or an assessment from BaFin.