LIECHTENSTEIN Law and Practice Contributed by: Moritz Blasy, Nicolai Binkert, Simon Ott and Christian Scheffknecht, Schurti Partners Attorneys at Law Ltd
court to submit a statement of all their assets to the court. In the event of non-compliance, the submis - sion of the statement of assets can be enforced by coercive measures, including detention. Providing incorrect or incomplete information in the statement of assets constitutes a criminal offence under Liech - tenstein law. 2.5 Challenging Enforcement of Domestic Judgments Enforceable Judgments Only “enforceable” judgments can be enforced under the Liechtenstein Enforcement Act. A judgment or order is enforceable if an appeal is no longer available or, if an appeal is available, the appeal does not have suspensive effect as a matter of law and the court does not grant a stay of enforcement. Once a judgment is enforceable, the judgment credi - tor can apply for an enforcement order. The enforce - ment order can be appealed by the debtor within 14 days of service. An appeal against an enforcement order does not have suspensive effect as a matter of law but the court has discretion to stay enforcement pending appeal upon the application of the appellant if it is of the view that the purpose of the appeal would otherwise be defeated. Other Remedies In addition to an appeal against the enforcement order, there are a number of other remedies available to debtors that may lead to a temporary stay and, if successful, even the (full or partial) termination of the enforcement proceedings, as follows. • A debtor can file a so-called opposition claim ( Oppositionsklage ) in order to raise substantive objections against the claim that is sought to be enforced on the basis of circumstances that have occurred after the judgment that is sought to be enforced was rendered – eg, that the claim has ceased to exist (because it has already been satis - fied ( erfüllt ) or because the debt was acquitted ( erlassen ), etc) or that the claim has become tem - porarily unenforceable (eg, because the creditor has granted a temporary deferral of performance). If the debtor succeeds with the opposition claim, the enforcement procedure will be terminated.
Also, the court can stay enforcement pending the opposition claim if it is of the view that the pur - pose of the opposition claim would otherwise be defeated. • A debtor can file a claim for the cancellation of an enforcement order ( Impugnationsklage ) in order to challenge the enforcement order on formal grounds (eg, that the claim is not yet mature or enforceable, or that the creditor has waived the right to enforce the judgment). If the debtor succeeds with the claim, the enforcement procedure will be termi - nated, and the court can stay enforcement pending the claim if it is of the view that the purpose of the claim would otherwise be defeated. Third parties may also challenge enforcement pro - ceedings if they are of the view that the enforcement concerns assets that belong to them rather than the debtor (so-called Exszindierungsklage ). Such an action may also lead to a stay of the enforcement pro - ceedings and, if successful, to the termination of the enforcement procedure with respect to the relevant assets. 2.6 Unenforceable Domestic Judgments Only judgments ordering the performance or omission of a certain action ( Leistungsurteile ) can be enforced. Judgments creating or altering legal status ( Rechtsge- staltungsurteile ) and declaratory judgments ( Feststel- lungsurteile ) cannot be enforced (and, by definition, do not need to be enforced). 2.7 Register of Domestic Judgments There is no central register of judgments in Liechten - stein. However, all seizures of movable assets are reg - istered in a register kept by the Liechtenstein District Court. The register contains information on the credi - tors, the debtors, the enforced claims, the dates of the seizures and the assets concerned. 3. Foreign Judgments 3.1 Legal Issues Concerning Enforcement of Foreign Judgments Judgments of foreign courts are only enforceable in Liechtenstein if and to the extent such has been agreed in international treaties, or if reciprocity is guar -
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