Monaco
Being the Jurisdiction of the last testament of Lord Luis Bacardi, the Courts of Monaco play a crucial role in the attempts of Lord Luis Bacardi’s only child to gain back control of the rightful inheritance.
With multiple legal proceedings, Maria Luisa Bacardi and Lady Monika Bacardi claimed the return of all assets from purported BASTILLE TRUST and further compensation in connection with the legal and other costs arising from the current proceedings. The total value of all claims amounts to approximately 1.7 billion Euros.
Although in 2006, Dr. Bernhard Lorenz applied for and obtained from the Monaco Guardianship Judge the revocation of Maria Luisa Bacardi’s ad hoc administrator a few years later, due to the amount of Maria Luisa Bacardi’s heritage and her being underage, the new Monaco Guardianship Judge commenced an investigation over Maria Luisa Bacardi’s assets, Lord Luis Bacardi’s inheritance and BASTILLE TRUST.
From 2015 to 2019, the Liechtenstein trustees (including Dr. Bernhard Lorenz, the former partner of Marxer & Partner), with the help and support of two Monaco law firms, misled and obstructed the investigation by the Monaco Guardianship Judge.
In an attempt to avoid scrutiny, the Liechtenstein trustees argued that the Monaco Guardianship Judge lacked jurisdiction to investigate purported BASTILLE TRUST and its Liechtenstein trustees, claiming that the foreign court, the Liechtenstein Court, held control over the estate managed by the trust.
However, a glaring contradiction immediately leaps to the eye. When Lord Luis Bacardi passed away in 2005, he was long time Monegasque resident and his estate was officially opened in Monaco, in accordance with his last testament and the country’s Civil Code.
As a consequence, both Maria Luisa Bacardi and Lady Monika Bacardi once the deception and abuses concealed in the BASTILLE TRUST came to light, after very lengthy analyses commissioned from leading international law firms, in October 2021 and January 2023 respectively, commenced before the Court of Monaco their respective proceedings aimed at achieving the nullity of the BASTILLE TRUST and the resulting reinstatement of its assets, (including the shares in BACARDI Ltd.), in the hands of its Monegasque executors.
Sadly, once again, as already done with the Guardianship Judge, a specious objection over Monaco jurisdiction was put forward by the trustees and by Bacardi Ltd. and has became, for the time being, the central point in the Monegasque legal disputes surrounding Lord Luis Bacardi’s estate.
At this stage, it is clear that Maria Luisa Bacardi also deeply regrets the Monegasque judicial system, which has recently been hit by an unprecedented It is clear that Maria Luisa Bacardi also deeply regrets the Monegasque judicial system, which has recently been hit by an unprecedented drop-out of judges.
The local judicial system has been unable during her minority to protect her position in the slightest and from October 2021 to date has still not been able to declare its self-evident jurisdiction over the succession of her father Lord Luis Bacardi and begin the examination of proceedings on the substance.