In a ceremonial setting, Prof. Dr. Alexandra Butterstein, LL.M., delivered her inaugural lecture as Professor of Corporate, Foundation, and Trust Law on June 4, 2024, in the auditorium of the University of Liechtenstein. Around 150 participants, including numerous colleagues from home and abroad, external guests, and students, attended the event to witness this significant occasion.

Prof. Dr. Alexandra Butterstein, LL.M., has held the professorship for Corporate, Foundation, and Trust Law at the University of Liechtenstein since April 2023. She had already served in this role on an interim basis since October 2019 after Univ.-Prof. Dr. Francesco A. Schurr accepted a position at the University of Innsbruck. Since then, Prof. Butterstein has played a key role in shaping and advancing the professorship, the Institute for Business Law as its director, and later as Dean of the Liechtenstein Business Law School. In addition to her role as Dean, she has also been a member of the Rectorate since 2023. That same year, she completed her habilitation on the topic of cross-border restructuring of foundations and was granted the teaching authorization in the fields of commercial and corporate law, private international law, and comparative law.

The inaugural lecture was opened by Dr. Christian Frommelt, Rector of the University of Liechtenstein. In his welcoming remarks, he greeted the many guests in the fully occupied auditorium and emphasized the academic significance of an inaugural lecture for newly appointed professors as a formal opportunity to introduce themselves and their research areas to the public. Dr. Frommelt also highlighted the central role of university research for the country and praised Prof. Butterstein’s personal commitment and her outstanding research activities at the University of Liechtenstein.

Dr. Martin Alge conveyed the congratulations of the Liechtenstein government and stressed the importance of the foundation sector for the reputation of Liechtenstein’s secure financial center. In this context, he emphasized that a well-balanced foundation governance is essential and that this has been strengthened through the recent reform. The Office of Justice is currently working on a draft to introduce further targeted improvements in governance.

In his address, Univ.-Prof. Dr. Francesco A. Schurr, academic mentor to Prof. Butterstein, praised her outstanding academic and professional achievements. In addition to numerous administrative responsibilities and her teaching in undergraduate and continuing education, she stood out for her excellent research contributions. He acknowledged her significant scholarly work in the field of corporate, foundation, and trust law, which has made her a respected expert both nationally and internationally. Prof. Schurr expressed his pride and delight that his former student is now his successor and wished her success in her new role.

In her inaugural lecture, Prof. Butterstein focused on the topic “Governance of the Liechtenstein Foundation as a Tool for Succession Planning.” She began by highlighting the suitability of Liechtenstein’s foundation governance as a succession planning instrument for families and their businesses, taking into account various spheres of interest. “Recent foundation law reforms in German-speaking countries have intensified the competition between legal systems. In this context, governance and its flexibility will be central to a future-oriented foundation law,” Prof. Butterstein stated. She further emphasized that the flexible structuring of Liechtenstein foundations allows for tailored solutions to the complex demands of succession planning.

She also addressed the different aspects of corporate, family, and foundation governance in detail. In this context, she explained how the legal framework in Liechtenstein makes it possible to structure foundations in a way that meets the needs of founders as well as the interests of beneficiaries and the enterprise. Effective governance, she noted, is not only a legal necessity but also a key factor in building trust among stakeholders to ensure successful succession planning.

Moreover, Prof. Butterstein discussed the importance of international networks and Liechtenstein’s role in the global context of foundation law and in the competition among foundation jurisdictions. She emphasized that Liechtenstein, thanks to its modern and flexible legislation, can continue to play a pioneering role in developing and implementing innovative succession planning solutions.