LIECHTENSTEIN Law and Practice Contributed by: Moritz Blasy, Nicolai Binkert, Simon Ott and Kathrin Binder, Schurti Partners Attorneys at Law Ltd
3.2 Statutes of Limitations Under Liechtenstein law, statutes of limitation are considered a matter of substantive law rather than procedural law. Under Liechtenstein substantive law, the ordi- nary limitation period is 30 years. As a rule, the limitation period commences when the respec- tive right or claim can be exercised for the first time. However, the aforesaid is only a general rule to which numerous exceptions exist as a matter of statutory law. For example, for various types of contractual claims, the limitation period is only five years. Other claims, such as claims to challenge a will, are subject to an even shorter three-year limitation period. The courts do not take statutes of limitation into account ex officio. Rather, it is up to the parties to raise a respective objection. 3.3 Jurisdictional Requirements for a Defendant The general rule of jurisdiction is that Liechten- stein courts have jurisdiction if the defendant is domiciled in Liechtenstein. In addition, the Liechtenstein Act on Jurisdiction ( Jurisdiktion- snorm ) provides for various special jurisdictions that allow claimants to bring actions in Liechten- stein against defendants who are not domiciled in Liechtenstein. For example, Liechtenstein courts assume jurisdiction for contractual claims when the defendant performs its obligations in Liechtenstein, for claims against defendants with assets located in Liechtenstein, and for claims concerning real estate located in Liechtenstein, they assume jurisdiction as well. In addition, par- ties to a contract or a dispute are generally free to agree on the jurisdiction of the Liechtenstein courts.
that they will be refunded by the funded party in the event of a defeat. 2.6 Contingency Fees As a matter of statutory law and the Code of Ethics and Professional Conduct of the Liech- tenstein Bar Association, qualified lawyers are not allowed to enter into quota litis arrangements with their clients. This restriction does not apply to pre-agreed and clearly defined success fees that are owed in addition to the basic fees. No such restrictions apply to others, such as third-party litigation funders, whose compen- sation regularly consists of a percentage of the awarded amounts. 2.7 Time Limit for Obtaining Third-Party Funding As there are no specific rules dealing with litiga- tion funding, there are no time limits by when a litigant should obtain third-party funding. The Liechtenstein Civil Procedure Code does not prescribe any particular pre-action conduct, and the court cannot impose such on the par- ties. However, a person who intends to file a claim against a respondent who is resident in Liechtenstein may, on a voluntary basis, apply for the summons of the opponent for purposes of settlement negotiations before lodging the claim. The opponent is under no obligation to follow such summons, and non-appearance by the opponent has no consequences whatsoever. 3. Initiating a Lawsuit 3.1 Rules on Pre-action Conduct
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