Important news about our company and news from the world of trustees and property administrators.
EEA/Switzerland: New style business platform for innovation - Venture Cooperative
A small amendment with big potential for business innovation in the EEA and Switzerland. How one of the smallest countries becomes a favourable home to numerous groundbreaking companies – facilitating a head start for innovators and creators with the Venture Cooperative.
Media Information/ Schwärzler Attorney at Laws opening up in Zurich
The Liechtenstein based law firm Schwärzler Attorney at Laws has now opened up an office in Zurich after the take-over of the law office Fischer and Partner AG (AFP). After Schaan (Liechtenstein) and Zug (Switzerland) this is the third location of the law firm.
Groundbreaking Supreme Court decision in favour of a German insurance holder in Liechtenstein
On 10 April 2015, the Princely Supreme Court of Liechtenstein issued a groundbreaking decision against SwissLife (Liechtenstein) AG, a Liechtenstein-based insurance company. The duties of an insurance company regarding the distribution and the administration of unit-linked life insurance policies according to Liechtenstein law are thereby clarified once and for all.
First Decision by the Supreme Court regarding the rights of the Founder against the Trustee
With decisions dated 9 May 2014 and 5 December 2014 in two proceedings led by the author, the Supreme Court for the first time dealt with the rights of a founder as principal against the fiduciary founder of a foundation, therefore the trustee, in the context of the establishment of a foundation.
First honorary consulate of the Republic of Bulgaria in Principality of Liechtenstein - Appointment of Dr. Helmut Schwärzler
At official ceremony in the National Museum in Liechtenstein on the 24th of February 2015 it was announced the opening of the first honorary consulate of the Republic of Bulgaria in Principality of Liechtenstein, with a registered office in Schaan. The official ceremony was opened by HE Dr. Meglena Plugtchieva, Ambassador of the Republic of Bulgaria to the Swiss Confederation and to Principality of Liechtenstein.
Asset Recovery 2015 Liechtenstein
Asset Recovery Liechtenstein 2015 touches many aspects of both Civil Law and Criminal Law in Liechtenstein and the recovery of assets with procedural measures. The publication gives an extensive overview on possible measures in cases of civil and criminal asset recovery being a main field of experience and practice of the author.
Expert opinion on "Swiss Select": High risk of loss without corresponding expectation of return of investment
In a proceeding conducted by Schwärzler Attorneys at law against a Liechtenstein insurance company a recent expert opinion ordered by the court had to answer the questions whether it was at all possible to make a profit with a specific “Swiss-Select”-product, at what level the break-even point was, what influence the credit financing had and how the formulation used in the insurance documents “potential for good earnings with calculated risk – dynamic” had to be understood.
EFTA-Court establishes extensive information duties concerning unit-linked life insurances
The claimants had concluded unit-linked life insurances with Swiss Life (Liechtenstein) AG. The insurance premiums had partly been loan financed by the depositary bank. In the wake of these contracts the insurance holders claimed damages because the risk of the investment had been unpredictable and the product itself had not been transparent. Furthermore the defendant had charged excessive fees through which the assets had been depleted in short time.
Court grants compensation for the investing of life insurance policies contrary to contract
Each of the Claimants, a married couple, had concluded with the Defendant a unit-linked life insurance contract including Swiss Select guarantee notes. For these life insurances a conservative investment strategy with equal higher development in value had been stipulated in the contract.
Constitutional Court decided in favour of individual complaint
The Constitutional Court in Liechtenstein recently decided in favour of an individual complaint brought forward by Schwärzler Attorneys at Law and stated therein that summons relating to judicial assistance in criminal law proceedings also have to be served to the legal representative in Liechtenstein of the addressed person abroad. This is also the case when in the concrete proceedings the legal representative has not been declared as domestic address for service in the sense of Art 58b Abs 1 Z 2 RHG.
Immediate termination in Liechtenstein
48th Conference of European Attorneys at Law (DACH) from 9 to 11 Mai 2013 in Madrid, Topic “Employment law in Europe”: Immediate termination in Liechtenstein – Place of jurisdiction abroad, Speaker: Dr. Dominik Schatzmann, Attorney at Law
Settlement of old reserves / coupon tax
The newly introduced tax law heralds a number of major changes for public limited companies and establishments with capital broken down into shares with respect to the previously imposed coupon tax.
Simplified regulations for lawyers wishing to be entered in the list of Liechtenstein mediators
The requirements to be met in order to be entered in the list of mediators in Liechtenstein include records of attendance for 365 training units within the framework of mediator training.
ISB investment fraud - claim damages before they are struck by the statute of limitations
Allegedly as secure as a savings account while generating high returns: numerous investors – particularly people in Vorarlberg – invested their savings in the ISB Hedge Index of the Liechtenstein ISB Holding Anstalt and received certificates in return, which have now turned out to be completely worthless.
Life insurance - hundreds of policy holders lose savings
Allegedly as secure as a savings account or pension insurance fund. Hundreds of German policyholders therefore entrusted their savings to a unit-linked life insurance with SwissSelect guarantee products. They were promised a secure old-age pension policy with secure returns.