The liability of foundation councils: an uphill battle for beneficiaries?

Abstract

The question of liability of a foundation council remains one of the most important issues in foundation law practice and is at the root of many conflicts in the Liechtenstein foundation landscape. This article seeks to contribute to a better understanding of the key principles of this topic by outlining some of the elements forming the very complex legal framework of Liechtenstein's laws of liability. A closer look at the more recent hot-button issues in light of the Supreme Court's case law reveals a multitude of legal issues ultimately rendering attempts by beneficiaries to hold the foundation council accountable an uphill battle.