Administrators do not apply good governance

The introduction of the Code Corporate Governance is a step in the right direction, according to the Business Association of Curaçao (VBC), which simultaneously concludes that administrators and parliamentarians themselves insufficiently implement the objectives of this code, namely stimulating the administrative integrity and financial transparency.

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Former VROM head faces jail time

PHILIPSBURG--Although it was not allowed as evidence Wednesday in the trial of former Department of Environmental Development and Property Management VROM head Delano Richardson, the government accountants bureau SOAB final report on the issuance of building permits constantly “hovered” over this case dealing with the alleged criminal behaviour of a former department head.

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New Board Bar Association

In the Annual Meeting of the Curacao Bar Association Mr Cindy de la Fuente (lawyer at HBN Law) has been elected as secretary. She is the successor of Mr Daniel Zahavi, who was a board member for five years.

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NETHERLANDS CARIBBEAN BANK N.V. IN LIQUIDATION

Notice of Filing Final Account

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NETHERLANDS CARIBBEAN BANKS AND REGULATORY ISSUES

A bank has less freedom than an ordinary legal entity

What would be the requirements, from a regulatory point of view, if a Netherlands Antilles bank wished to sell its entire business or a substantial part thereof? Would it require approval from the Netherlands Antilles Central Bank (de ‘Bank van de Nederlandse Antillen’)?

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Biomet hopes to arrange dispute with IRS soon

Bertie Braam, the lawyer of the prosthesis-importing company, estimates that the garnishment order served on Biomet Curaçao will actually amount to approx. 500.000 guilders. The IRS has served a garnishment order on the Taams Clinic and on the St. Elisabeth Hospital (Sehos).

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Members of the Court

The Council of Ministers for the Kingdom has agreed to the proposal of state secretary Ank Bijleveld-Schouten (Kingdom Affairs, CDA) to nominate M. Schoemaker and M. de Kort for appointment as ad interim member of the Joint Court of Justice of the Netherlands Antilles and Aruba.

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BES official will obtain tailor-made pension system

In the light of the new political status of the island Bonaire, Saba and Statia (BES islands), the House of Representatives in The Netherlands will consider a new tailor-made pension system by the name of “Stichting BES pensioenfonds”.

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Third Bankruptcy Report - Lehman Brothers Securities N.V.

The bankruptcy trustee of Lehman Brothers Securities N.V. – Mr. Michiel R.B. Gorsira – has published the third bankruptcy report regarding the insolvency of Lehman Brothers Securities N.V.

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HELP MAKE CURACAO ABLED

The Laura and Wagner Foundation Fundraising Evening

On Thursday December 3, 2009, the Laura and Wagner Foundation are holding a fundraising evening at the Netherlands Antilles Central Bank.

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THE DUTCH CARIBBEAN AND ITS CIVIL LAW SYSTEM

Abstract rules are the starting point

The Netherlands Antilles are an autonomous part of the Kingdom of the Netherlands. The Kingdom of the Netherlands is composed of three parts: the Kingdom in Europe (popularly known as Holland, north of Belgium and west of Germany), the Netherlands Antilles (in the Caribbean Sea, north of Venezuela), and Aruba (also in the Caribbean Sea, north of Venezuela).

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Day of the Supervisory Board 2009

During the fourth “Day of the Supervisory Board”, organized by The Galan Group Netherlands Antilles and Aruba together with VanEps Kunneman VanDoorne, several aspects relating to good corporate governance will be discussed. The subject of the day is: “It’s not only the rules and regulations. It’s also the way people work together.”

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"Isla should not be allowed to continue to cause damage"

“The residents have experienced the dangers of an improper procedure with the cat cracker – which Isla by the way had also mentioned in their appeal – two weeks ago, when they had been overtaken by an emission of poisonous white dust again.”

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Professor Jan Reijntjes: language in Court often chaotic

In the court rooms in Willemstad in a criminal case often two or even three languages are spoken: Dutch, Papiamentu, and , in case of a foreign suspect, also Spanish or English. According to professor Jan Reijntjes of the faculty of Law of the University of the Netherlands Antilles the official language in Court is often chaotic.

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Military member of the Court

Since yesterday the military chamber of the Joint Court of Justice has a new member: Deputy Commander Naval Forces Caribbean, Ltz. I Jeroen van Zaalen was sworn in as a military member.

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THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (III)

Case law the principle of good faith

A legal entity and all involved in its organization have a legal duty to behave towards each in accordance with the principles of reasonableness and fairness, i.e. (objective) good faith.

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Seizure of Taams clinic allowed up to half a million

Biomet Curaçao is allowed to seize the Taams clinic up to an amount of 500.000 gulden. This was decided by the Court of First Instance this morning.

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Agreement on distribution of tasks and social security

Tuesday 3 November State Secretary Ank Bijleveld-Schouten of Kingdom Affairs, deputees Julian Woodley of Sint Eustatius and Chris Johnson of Saba have signed the distribution of tasks between the Netherlands and the islands after 10-10-10.

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Judge orders immediate reopening Club

PHILIPSBURG--“I order that the Seaman’s Club may be opened immediately for its clients during the period that the business licence for its new location is not being issued.”
This was the temporary provision which Civil Judge René van Veen handed down at the end of a civil summary proceeding in Philipsburg Courthouse Friday.

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THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (II)

Limitations on the applicability of provisions

As a general matter of Netherlands Antilles law, the interpretation of terms contained in legal documents, such as the articles of association and the by-laws, however only to a certain extent, inter alia subject to the intention of the parties, and the enforcement thereof, is subject to the overriding principle of “fairness and reasonableness” (in Dutch: “redelijkheid en billijkheid”) meaning that under certain circumstances a term of the articles of association or by-laws may not be applicable in so far as this term would in such circumstances be contrary to this principle.

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