Creditor Protection
For certain clients, the liberality and anonymity offered by Liechtenstein’s legal environment create a great temptation to evade legal or contractual obligations through the use of the Principality’s asset-holding structures. In the past, Liechtenstein trusts, foundations and establishments (Anstalten) have frequently been used to deprive creditors of their rights.
An end to this development, in an age of increasingly aggressive asset protection strategies, is not in sight. In recent years, states such as the USA and Germany have successfully exerted political pressure on Liechtenstein in the pursuit of their own fiscal interests. Protecting the "straightforward" rights of their citizens as creditors, on the other hand, does not appear to interest US or EU politicians. As a consequence, a person whose claims under contract and tort, family or inheritance law run the risk of falling by the wayside due to the use of Liechtenstein structures is likely to find him- or herself out on a limb.
Without the support of an experienced expert, creditors who want to take effective legal action against founders or other holders of controlling interests in Liechtenstein-based legal entities will usually find themselves fighting a losing battle.
Above all, effective protection for creditors under Liechtenstein law calls for
- precise knowledge of Liechtenstein’s asset-holding structures with their strength and weaknesses
- optimum familiarity with the legal tools of creditor protection law and
- the ability to represent the creditor’s interests effectively and efficiently in a court of law.
Our law office can meet these requirements:
An in-depth knowledge of the strengths and weaknesses of Liechtenstein’s asset-holding structures is a major aspect of our know-how. We possess specialist expertise in the relevant fields of law and know how to enforce creditors’ rights against Liechtenstein vehicles as well as against their founders and beneficiaries.