32 Legal cases
Due to the nature of the business LLB Group is involved in various disputes and legal proceedings arise in the ordinary course of business. LLB Group makes provisions for such matters when, in the opinion of management and its professional advisors, it is probable that a payment or loss will be made by Group companies, and the amount can be reasonably estimated. All provisions for legal proceedings are included in the item provisions in the balance sheet.
The bank has been informed that the US Department of Justice is investigating the conduct of certain banks including that of the Liechtensteinische Landesbank. Within the scope of these investigations, it is to be clarified whether in connection with former or current US clients, these banks have complied with US law, in particular US tax law and securities regulations. At the present time, these risks cannot be evaluated or quantified.
The bank has investigated the risks involved in cross-border business dealings with US clients and has reached the conclusion that at the present time no corresponding provisions are required.