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BGH recognises contractual termination rights in letters of comfort

By judgement of 20 September 2010 the Federal Court of Justice held that in a letter of comfort (Patronatserklärung) it would be possible to validly agree a termination right for the parent company which could be exercised even in a financial crisis of the beneficiary of such letter of comfort (BGH, 20 September 2010, II ZR 296/08).

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Posted by Mario Lindner on Wednesday 22 Sep 2010

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