Insolvency rules cover a wide range of measures from early intervention before a company gets into serious difficulties, timely restructuring to ensure that viable business parts are preserved, liquidation of assets where companies cannot be otherwise saved and finally giving a second chance to honest entrepreneurs via discharge of debt.

Claudia Csáky, head of our firm’s Intellectual Property / IP & IT practice group, authored the Chambers Global Practice Guide 2018 for Copyright in Austria.

Under Austrian law, a recommendation letter must be truthful and cannot contain language that would aggravate the professional advancement of the employee.

When truthfulness would result in less than lavish praise, employers must resort to a short-form recommendation letter, devoid of any information beyond the type of work performed and the duration of employment. This alternative, although accurate in its lack of praise, can aggravate an employee's career prospects.