LIECHTENSTEIN Law and Practice Contributed by: Matthias Niedermüller, Alexander Milionis and Fabian Rischka, Niedermüller Attorneys-at-Law
tion 1311 of the Civil Code in combination with the provisions of the Criminal Code provide the main basis for tort claims under Liechtenstein law. Claims against unjustified enrichment The result of fraud is the shift of assets from the deceived party to the offender or a third party. As the shift of assets was caused by a deceit, the law aims to reinstate the situation preced - ing the deceit by nullifying the transaction and making the recipients unlawful holders of assets. Depending on the circumstances, Liechten - stein’s general civil law provides for specific instruments enabling the deceived party to claim for the return of the assets from the counter - party. Specifically, claims can be asserted based on Section 877 of the Civil Code (condictio sine causa), which covers the unwinding of actions resulting from cancellation of a contract. Fur - ther, Section 1431 of the Civil Code (condictio indebiti) allows a party to claim for the return of the assets from the counterparty, asserting that the original payment was made without legal grounds or in error. In contrast to claims for damages, claims based on unjust enrichment generally do not require culpable conduct of the counterparty. Asserting claims for damages, however, does not prevent the claimant from asserting claims for restitu - tion of unjust enrichment as well. Therefore, both kinds of claims can be asserted in parallel. Claims against unauthorised use As a subcategory of claims against unjust enrichment, Section 1041 of the Civil Code cov - ers claims by a party where the counterparty was enriched not by an act of the other party but by using assets of the other party without legal grounds. As with claims based on unjust
enrichment, a lengthy limitation period of up to 30 years applies in most cases. Claims for challenging contracts A contract based on fraud is concluded by one party deliberately deceiving the counterparty. As a result, Liechtenstein civil law aims to enable the deceived party to challenge or amend with retro - active effect the contract before court, asserting that the contract is the outcome of fraud and needs to be cancelled by a judgment declaring the contract null and void with retroactive effect (Section 870 et seq of the Civil Code). Subsequent to a cancellation of a contract based thereon, the challenging party can make an unjustified enrichment claim to reclaim the assets transferred under the cancelled contract Section 218 of the Persons and Companies Act provides the basis for companies to claim dam - ages against their former and current directors or corporate bodies for intentional as well as neg - ligent conduct. For more details, see 3.3 Share- holders’ Claims Against Fraudulent Directors . Enforcement of claims against fraudulent conduct Claims against fraudulent conduct of the coun - terparty can be brought before court by filing a lawsuit in accordance with the Civil Procedure Code. 1.2 Causes of Action After Receipt of a Bribe A principal whose agent has received a bribe is entitled to claim compensation vis-à-vis the agent if the general requirements for a claim for compensation under Liechtenstein civil law as (Section 877 of the Civil Code). Liability claims against directors
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