Lower duty of a bank to warn and inform a pledger


In general, a bank is obliged to inform the guarantor about the economic situation of the principal debtor. However, outside of § 25c KSchG (Consumer Protection Act) this duty to inform exists only if the bank is aware (bordering on certainty) that the principal debtor will not be able to repay the loan, that he is not solvent or that the economic collapse of the principal debtor is imminent. Outside the scope of § 25c KSchG the bank has no duty to make inquiries which would precede the duty to inform. An analogous application to a mere pledge is ruled out. [OGH 11.08.2015, 4 Ob 254/14b]