US Court Dismisses Fagan’s Action Against VERBUND

11/19/2001Wien

On November 15, 2001 the competent New York court dismissed the action filed against Österreichische Elektrizitätswirtschafts-AG (VERBUND) by the families of victims of the tunnel disaster at Kaprun.

Originally, the US-attorney Mr. Fagan, well-known for his actions in connection with the Holocaust, together with several other lawyers, had sued VERBUND as minority shareholder of Gletscherbahnen Kaprun AG for damages to an indefinite amount to attain a settlement running into billions. Now the US federal court decided that Mr. Fagan’s action against VERBUND was to be dismissed. The court’s opinion is that US courts have no jurisdiction over the Austrian company in this case.