Type and Duration
Preproposal PhD-Thesis, since September 2023Coordinator
Liechtenstein Business Law SchoolMain Research
Business LawDescription
The prohibited return of capital contributions under Liechtenstein law has not yet been the subject of any in-depth academic studies. The Liechtenstein courts have also only had to deal with the prohibited return of capital contributions under Liechtenstein corporate law in a few decisions to date - and even then, only obiter at best. This lack of usable legal literature and case law often leads to considerable legal uncertainty in practice.However, the fact that Liechtenstein corporate law prohibits the return of capital contributions can hardly be disputed. The provision of article 219 (4) PGR, which is anchored in the general part of the Persons and Companies Act (PGR) and thus applies in principle to all companies/legal entities established under Liechtenstein law, expressly states the following: "Anyone who has received payments from the legal entity contrary to the provisions of the law, such as profits, interest on building, is obliged to return them if it can be proven that he was in bad faith at the time of receipt."
Against this background, this PhD project aims to provide a systematic and principle-oriented analysis of the prohibited return of capital contributions under the Liechtenstein Persons and Companies Act. Comparative legal considerations with neighboring jurisdictions will also be conducted.
