LIECHTENSTEIN Law and Practice Contributed by: Moritz Blasy, Nicolai Binkert, Simon Ott and Christian Scheffknecht, Schurti Partners Attorneys at Law Ltd
tion funding is permitted and there are no particular restrictions. 13.4 Consolidation Neither the Liechtenstein Arbitration Law nor the Liechtenstein Rules contain specific provisions on the consolidation of separate arbitral proceedings. As a consequence, a consolidation of separate arbitral pro - ceedings is not permissible without the consent of all concerned parties. 13.5 Binding of Third Parties According to the Liechtenstein Arbitration Law, arbi - tration clauses in articles of association, trust deeds or foundation statutes are valid and legally binding. For example, a beneficiary that wishes to bring a claim for information against a foundation or a trustee is bound by an arbitration clause contained in the statutes/trust deed of the respective foundation/trust even though the respective beneficiary never agreed to the arbitra - tion clause.
Further, it has to be noted that Austrian case law has established that both single and universal legal suc - cessors, assignees of a claim or contract, and benefi - ciaries of contracts for the benefit of a third party are bound by an arbitration agreement, even if they are non-signatories. It is likely that Liechtenstein courts would take a similar approach. In addition to these established principles of third- party binding, recent case law of the Liechtenstein Supreme Court has further clarified the functional scope of arbitration clauses in articles of association, trust deeds or foundation statutes. In particular, the Liechtenstein Supreme Court emphasised that arbi - tration clauses contained in such documents may cover not only claims arising under company, trust or foundation law, but also those that are formally char - acterised as non-contractual (eg, restitution or unjust enrichment claims), provided that such claims have their economic origin in such a relationship. In principle, judgments of the ordinary courts are only binding on the parties to the proceedings.
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