LIECHTENSTEIN Law and Practice Contributed by: Moritz Blasy, Nicolai Binkert, Simon Ott and Kathrin Binder, Schurti Partners Attorneys at Law Ltd
8.4 Setting Aside Settlement Agreements Parties can agree to include a revocation clause in the settlement enabling them to withdraw within a certain timeframe. Apart from that, set- tlement agreements can only be challenged on the grounds of a severe mistake or of deliberate deceit and duress. 9. Damages and Judgment 9.1 Awards Available to the Successful Litigant The Liechtenstein courts can render judgments: • ordering performance of a certain action (eg, payment of a certain sum of money or handing-over of a specific asset); • forbidding a certain action; • creating or altering legal status (eg, divorces, annulments of corporate resolutions); or • of a declaratory nature. In principle, courts are bound by the relief sought (and may not order more or something different Liechtenstein civil procedural law does not pro- vide for special rules regarding damages. In most cases, awards granted for damages are monetary judgments. Declaratory judgments for future damages (interrupting limitation periods) are another important form of award for dam- ages. While as a matter of substantive Liechtenstein law, the maximum amount of damage is gen- erally not restricted, a damaged party may, in principle, only claim the amount of the actual damage, whereas punitive damages are alien to substantive Liechtenstein law. to that requested by the applicant). 9.2 Rules Regarding Damages
holds true if a party files a constitutional com- plaint with the Constitutional Court. If a judg- ment is lifted due to a violation of constitutional rights by the Constitutional Court, the case must be re-heard by the ordinary courts, which in turn opens the possibility to appeal the new deci- sions.
8. Settlement 8.1 Court Approval
The settlement of a pending lawsuit (either within or outside of a court hearing) does not require the approval of the court, except for matters concerning child support and custody of chil- dren. Judges are encouraged by law to make litigants settle amicably at any stage of the proceedings and, in practice, judges go to great efforts to get disputes settled in the early stages of the pro- ceedings in order to avoid unnecessary, costly and lengthy proceedings. 8.2 Settlement of Lawsuits and Confidentiality Parties can, and often do, agree on a confiden- tiality clause in a settlement. 8.3 Enforcement of Settlement Agreements A settlement taken on record in court, which was concluded irrevocably, constitutes an enforce- able title (ie, a judicial settlement is equal to a judgment). An extrajudicial settlement does not constitute an executory title, and new proceed- ings must be initiated in order to enforce a claim arising from an out-of-court settlement.
809 CHAMBERS.COM
Powered by FlippingBook