The Board of Directors of the Liechtenstein Institute of Professional Trustees and Fiduciaries appointed an Arbitration Committee in its resolution of 12 June 2018. The Arbitration Committee is responsible for the arbitration of any disputes between members of the Board of Directors; in particular in contested mandate transfer cases as set out in Article 18(3) et seqq. of the Rules of Conduct.
The Board of Directors has appointed the following persons as members of the Arbitration Commission for the term of office from July 1, 2023 to June 30, 2025 in accordance with Art. 12a Para. 3 of the Rules of Procedure:
- HSH Prince Michael von und zu Liechtenstein (Chairman)
- Dr. Stefan Wenaweser (Observer)
- Dr. Veit Frommelt (Observer)
Substitute members of the Arbitration Committee
- Substitute member for the Chairman: Anton Wyss
- Substitute member for Dr. Stefan Wenaweser: Gerhard Meier
- Substitute member for Dr. Veit Frommelt: Dr. Thomas Nigg
The Arbitration Committee can be contacted via the management office address of the Institute of Professional Trustees and Fiduciaries, or by sending an e-mail to [email protected].
The following is an excerpt from Article 18 of the Rules of Conduct, which describes the procedure, and an excerpt from Article 7 of the Rules of Conduct, which describes the relevant conflict of interest. The purpose of this regulation is to propose a simple, rapid and cost-effective arbitration procedure. The regulation provides for the delegation of this task by the Board of Directors to the Arbitration Committee. Consequently, a report must be submitted to the Arbitration Committee. Said Arbitration Committee is also responsible for carrying out the subsequent procedure. If no agreement is reached, the Arbitration Committee will issue a recommendation. Failure to comply with such a recommendation may have disciplinary consequences. This ensures that, in justified cases, the timely transfer of discretionary mandates is enabled. In order for this procedure to be adopted, the parties involved (with the exception of the transferring party, see Article 7) must first reach an agreement on this, and a conflict of interest as set out in the correspondingly adapted Article 7 of the Rules of Conduct, or another important reason, must exist. The initial step of the procedure is a joint discussion between Board of Directors members.