Austrian Supreme Court scrutinises admissibility of contingency fee arrangements and third-party funding
The Supreme Court recently had to assess, with regard to a decision on costs, whether the respondents' fee agreement with their representatives was void as a contingency fee arrangement, violating the prohibition of <i>quota litis</i> pursuant to section 879(2) No. 2 of the Austrian General Civil Code. The Court also examined whether this amounted to a reason to set aside an arbitral award. The Court took this as an opportunity to express its opinion on the admissibility of third-party funding under Austrian law.
Source: lexology.com