Lecture
Speaker
Hon.-Prof. Dr. Dietmar Czernich, LL.M.
Date
06.05.2014 18:00 - 20:00
Content
In this jurisdiction symposium, organised by the Chair of Company, Foundation and Trust Law, case law regarding the position of beneficiaries and members of a company in arbitration will be analysed and discussed.
Disputes arising between the beneficiaries and the distributing foundation or disputes arising between a company member and the company are prime examples of the type of disputes concerned in arbitration. It is often not desired for the details of such disputes, which may be referred to as cooperative, to be disclosed to third parties or the general public. One advantage of the arbitration process, which will be considered more closely at the jurisdictional symposium, is the fundamental private nature of the process, which clearly distinguishes it from civil proceedings. Furthermore, the proceedings are very flexible, in particular in connection with family foundations, because - in contrast to state court proceedings - the arbitrator may visit witnesses and take their testimonies at any location desired. However, quintessential arbitration, which at its core concerns a bilateral dispute between two companies, does not always provide these benefits. Disputes arising out of cooperation agreements only exceptionally constitute disputes between businesses, resulting in various areas of conflict in practice.
Difficulties arise, for example, in relation to the binding effect on parties who have not expressly consented to the arbitration agreement, because they were not party to the agreement at the time it was concluded. To overcome this problem, legal provisions must be understood such that a unilateral clause alone will lead to the validity of an arbitration agreement. Caution should also be exercised in the interpretation of consumer protection provisions. Parties to arbitration proceedings have no recourse to legal aid, therefore arbitration agreements must be classified as risky transactions for consumers (the economically weaker party). In its decision of 16.12.2013 (6 Ob 43/13m), the Austrian Supreme Court adopted a very restrictive approach, which will also have a significant impact on the legal situation in Liechtenstein. Finally, the impact of the entry into force of the New York Arbitration Convention on arbitration in foundation matters will be discussed. The NY Convention overrides Liechtenstein's provisions on compulsory arbitral jurisdiction, allowing for the seat of the arbitral tribunal in foundation matters to be located anywhere in the world.
Target Audience
Lawyers, trustees, chartered accountants, legal staff in the civil service and in the financial sector as well as any people interested specifically in current case law.
Information Contact
Paulina Bracher, MSc
Univ.-Prof. Dr. Francesco A. Schurr
Costs
CHF 210 per person including materials, a certificate of participation and an aperitif.
Deadline
May 02, 2014
The General Terms and Conditions apply by submitting a binding registration.
Details on Right of Withdrawal/Cancellation and Dropout as well as Substitute Participants are regulated in the General Terms and Conditions.