Dutch Caribbean Legal Portal

PHILIPSBURG--The Algemeen Pensioenfonds Curaçao Bank NV (APC Bank) will soon become the sole shareholder of PSB Bank in St. Maarten.

CARACAS - Venezuela’s state-owned oil company Petroleos de Venezuela is proposing a sweeping restructuring that would transfer a large portion of its current activities to private companies, according to a document seen by Reuters.

DEN HAAG - Het kabinet heeft 16,5 miljoen euro humanitaire hulp toegezegd aan Aruba, Curaçao en Sint-Maarten en de drie Bes-eilanden voor de komende drie maanden. Dat maakte Staatssecretaris Raymond Knops gisteren bekend.

New York - The Trump administration ordered Chevron to halt oil production in Venezuela per 1 December 2020, dealing another blow to the American oil giant's century-long relationship with the crisis-ravaged OPEC nation.

UNITED STATES/VENEZUELA - The US federal investigation into corruption at Venezuela’s state-owned oil company, Petróleos de Venezuela SA (PDVSA), shows no sign of abating.

PARAMARIBO - In een brief aan president Desi Bouterse wijst governor van de Centrale Bank van Suriname, Maurice Roemer, het staatshoofd erop dat de deze week door hem afgekondigde ‘valutawet’ “op gespannen voet staat met de Bankwet en wettelijke regelingen”.

WILLEMSTAD - Curacao is pursuing a $162 million arbitration claim against Venezuela’s state-run PDVSA oil firm over its management of the island’s oil refinery, an executive of Refineria di Korsou said yesterday.

WILLEMSTAD/CARACAS - Curacao state-owned oil refinery Refineria di Korsou (RdK) on Friday seized an oil storage terminal on the Dutch Caribbean island of Bonaire over a payment dispute with Venezuela’s state-run PDVSA oil firm, a RdK official said.

LONDON - The world’s top rating agencies said on Tuesday that the sharp drop in oil prices, if sustained, could cause a wave of sovereign downgrades as well as heavy multi-notch rating cuts to junk-rated oil and gas firms.

WILLEMSTAD--To restore the independent position and integrity of the Central Bank of Curaçao and St. Maarten (CBCS), the Supervisory Board and two governments must appoint one or two international heavyweights in the short term to strengthen the joint monetary authority’s management.

ORANJESTAD/HOUSTON - U.S. refiner Citgo has reached an agreement with Aruba to transfer control of the San Nicolas refinery to the island’s government, Citgo said late on Saturday, after the two parties last year suspended a contract to overhaul the facility.

MEXICO CITY/HAVANA - Venezuela’s state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources and internal company documents seen by Reuters.

PHILIPSBURG--Port St. Maarten announced that it has entered a strategic partnership with consultant Ernst and Young (EY) Advisory Services to develop the port’s “National Development Plan 2020-plus.” According to the port, this plan should ensure that St. Maarten maintains a relevant position in the cruise tourism market.

Al jaren voert prinses Camilla van Bourbon-Sicilië rechtszaken tegen BNP Paribas, dat ruim $100 miljoen van haar familie eist. Nu de bank documentatie heeft opgeëist bij een Nederlands trustkantoor besluit Camilla - voor het eerst - met de media te praten. 'BNP heeft de aanval geopend op mijn financiële nest.'

PARAMARIBO--Suriname has secured ownership of the Afobaka Dam, the hydroelectric facility in District Brokopondo that provides current for electricity company EBS.

PARAMARIBO - Surinames schuld aan Peking is nu om en nabij een miljard dollar. Het IMF waarschuwt dat de schuld niet verder moet oplopen, maar president Desi Bouterse maakt zich geen zorgen.

BRIDGETOWN, Barbados – Barbados has passed its latest International Monetary Fund (IMF) test with flying colours, opening up access to almost BDS$100 million (US$48 million) from the Washington-based institution.

On December 11, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the 2019 Article IV consultation [1] with Suriname.

TORONTO, Canada – The Royal Bank of Canada (RBC) today announced the sale of all its Eastern Caribbean banking operations to a consortium of five indigenous banks.

WASHINGTON/PHILIPSBURG - The World Bank and the Government of Sint Maarten signed a US$72 million grant agreement for the Sint Maarten Airport Terminal Reconstruction Project which aims to restore full service at the Princess Juliana International Airport in Sint Maarten.