"Their key attribute is that stichtings, often referred to as orphan foundations, don’t have any legal owners. That means they can be used to put money or other assets outside the reach of government authorities, competitors or shareholders. The stichting’s purpose and the responsibilities of its board of directors can be tailored to the vehicle’s needs.
“The stichting is where the buck stops. There is no owner,” said Philippe Steffens, a structured-finance lawyer at Baker & McKenzie in Amsterdam."
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