Company Law Relevant to the Financial Centre: Determination of the Status Quo and Preparation of the Theoretical Principles for Pioneering Development

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Type and Duration

WTT, December 2009 until September 2011 (finished)

Coordinator

Chair of Company, Foundation and Trust Law

Main Research

Wealth Management

Field of Research

Wealth Planning

Description

The purpose of the project is to undertake a systematic analysis of the strengths and weaknesses of Liechtenstein company law relevant to the financial centre. Theoretical principles will be compiled for the further stages of legal development.
As its starting point, the project will use the legal provisions contained in Liechtenstein company law and their application by the domestic and foreign courts. Insights into practical experience obtained by involving market participants will furthermore serve as a basis. In realising the project, various methodical approaches will be drawn upon. The basic theoretical, comparative law research required to determine the status quo will be augmented by empirical studies at home and abroad. Determining the national and international requirements (especially EEA and EU) on the company law relevant for the financial centre is the aim of the study. Existing or planned legal regulations will be subjected to an economic analysis.
The project will lead to structural representations of the individual areas of company law, having specific regard to the latest developments. The uncertainty among the industry, ensuing from a change in the law, will thus be tackled. The project is also aimed at drawing the industry's attention specifically to opportunities. Particular attention will be placed on the new law of foundations, the law of trust currently requiring reform, and the law of establishments.
The international, in particular European dimension plays a crucial role. Thus, imminent directives, which will have to be implemented in Liechtenstein and whose subject matter is related to company law, will for example be analysed and reviewed. The case law relevant for the company law at the Liechtenstein financial centre (e.g. judgments of the ECJ) will also be reviewed in a practice-orientated way.
There will moreover be sufficient scope for considering overlaps with contiguous issues of contract law, inheritance law, conflict of laws, etc.

Reference to Liechtenstein

The purpose of the project was to undertake a systematic analysis of the strengths and weaknesses of Liechtenstein company law relevant to the financial centre. This provided a basis to compile theoretical principles for the further stages of legal development. As a result, structural representations of the individual areas of company law, having specific regard to the latest developments in the competition between jurisdictions, were made and thus chances for the industry were indicated.

Keywords

Corporate Law, Trust Law, comparative law analysis, economic analysis of law, Foundation Law