The Hanseatic Higher Regional Court (OLG) of Hamburg today upheld an action brought by the Federal Association of German Consumer Organizations against EOS Investment GmbH. According to the decision, the company must not require defaulting consumers to reimburse the collection fee, because despite engaging EOS Deutscher Inkasso-Dienst GmbH it has not suffered any reimbursable loss. EOS regards the decision as wrong and will appeal to the Federal Court of Justice. The judgment is not final.
“In our view, the Higher Regional Court of Hamburg has disregarded essential points in the proceedings,” explains Dr. Hendrik Aßmus, Head of Legal at EOS in Germany. “In all test cases addressed, there was indisputably a payment default. Costs are incurred during the processing of these receivables that are to be borne by the defaulting payer according to our understanding of the law. Ultimately, the defaulting payer has not met their obligation to pay the receivable in due time. The judgment therefore violates significant fundamental principles of German tort law, which is why we are having it reviewed by the Federal Court of Justice (BGH).”
A ruling by the Federal Court of Justice is not expected until 2024 at the earliest.
About the EOS Group
The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 45 years of experience, EOS offers customers in 24 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.
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