LIECHTENSTEIN Trends and Developments Contributed by: Michael Nueber and Philipp Konzett, Nueber Konzett
neurs and consumers not only ad hoc but also in advance, as long as the consumer has been prop - erly informed about his or her rights and sought legal counsel beforehand. This is a significant advantage that Liechtenstein offers as an arbitration venue. In general, particular attention should be given to: • the persons and categories of persons intended to be bound; • the disputes covered by the clause; • the method by which affected persons are to receive notice; • representation of unborn, minor, incapacitated or unidentified beneficiaries; • the appointment of arbitrators in a multiparty set - ting; • the interaction between several connected instru - ments; • joinder and consolidation; • confidentiality and access to documents; • interim measures; and • disputes or supervisory matters that remain within the exclusive jurisdiction of the courts or public authorities. More often than not, arbitration clauses in foundation or trust documents refer to ad hoc proceedings. How - ever, where institutional rules apply, it is usually the Swiss Rules or those of the Vienna International Arbi - tral Centre (VIAC). The Supplemental Swiss Rules for Trust, Estate and Foundation Disputes, which entered into force on 1 July 2025, illustrate the broader region - al move towards specialised private wealth arbitration. Those rules deal expressly with notification, informa - tion rights and representation of persons affected by the dispute, as well as the constitution of the tribunal and certain applicable-law issues. Although they do not form part of Liechtenstein law, they are widely used and relied upon. For Liechtenstein structures, this development is likely to encourage a move away from short, generic arbitration clauses. Clauses may increasingly be sup - plemented by procedural provisions tailored to the structure. At the same time, excessive complexity should be avoided. A clause that attempts to regulate every possible future conflict may create jurisdictional
uncertainty or procedural disputes before the merits can be addressed. Interim relief and theimportance of court support The effectiveness of arbitration often depends on what happens before the final award. In disputes involving liquid assets, shares, foundation rights or control over corporate bodies, the practical outcome may be determined by whether the status quo can be preserved at an early stage. In practice, parties may seek orders intended to pre - vent the dissipation of assets, changes in control, the implementation of contested resolutions, or other steps that would render a later award ineffective. Interim relief can be granted either by the arbitral tri - bunal itself or by the state court. Under Liechtenstein arbitration law, an arbitral tribu - nal may order interim or protective measures unless the parties have agreed otherwise. The counterparty must, however, first be given an opportunity to be heard. Ex parte measures remain within the exclusive competence of the ordinary courts. The courts therefore continue to play a particularly important role. Court-ordered interim relief is also available in support of foreign-seated arbitration proceedings. Under Liechtenstein law, an arbitration agreement does not prevent a party from applying to the Princely Court of Justice (District Court) for a provisional or protective measure, either before or during the arbitration. It may be recommendable to include an express permission, nonetheless (see next paragraph). A well-drafted arbitration clause should preserve access to court-ordered interim relief and should avoid any uncertainty as to whether seek - ing such relief constitutes a waiver of the arbitration agreement. The Liechtenstein Rules, however, introduce an addi - tional restriction once the tribunal has been consti - tuted. Unless the parties have agreed otherwise, a party must obtain the tribunal’s consent before seek - ing interim relief from a state court. In a three-member tribunal, the presiding arbitrator may grant that con -
541 CHAMBERS.COM
Powered by FlippingBook