Prof Dr Alexandra Butterstein, LLM, Dean of Liechtenstein Business Law School and Professor of Corporate, Foundation and Trust Law at the University of Innsbruck, a leading expert on foundation law, provided the audience with insight into current problems in foundation law. Her lecture was entitled ‘The purpose of the foundation as a limitation to action’.

Prof Dr Butterstein started her speech with an overview on Liechtenstein’s foundation law, highlighting both parallels and differences compared to the Austrian legal system. She identified the purpose of the foundation as the essential limitation to the management of the foundation. In particular, in the event of the establishment of sub-or sister foundations the purpose of the foundation can limit the power of management and representation. Finally, Prof Dr Butterstein specifically addressed important Supreme Court decisions in order to explain the possible legal consequences of disregarding a foundations’ purpose.

In the following discussion, the limits of the power of representation in Liechtenstein and Austria were discussed comparatively.

The seminar series was successfully organised by Prof Dr Susanne Augenhofer, LLM (Yale), Prof Dr Alexander Schopper and University Prof Dr Julia Told.