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UBS Case - Data transfer confirmed
- bank account held through a Liechtenstein foundation, Federal Administrative Court
The plaintiff argued that the UBS Agreement was not applicable because she does not beneficially own the bank account of the Liechtenstein foundation.
The Court rejected this argument. According to the Court, the plaintiff is the beneficial owner of the bank account of the foundation as she has signatory power over the bank account and as the by-laws of the foundation grant herself and her husband unrestricted power of disposal over the assets of the foundation.
For more information please visit www.bccc.ch