NEWSLETTER
GOVERNMENT AND CORPORATE GOVERNANCE I and II
- June 06, 2012 5:52 PM
GOVERNMENT AND CORPORATE GOVERNANCE (I)
For Hobbes, it is certain that there must be a sovereign
According to Thomas Hobbes we all have natural passions that carry us to, among other things, partiality, pride, and revenge. The laws of nature, as Hobbes sees them, including ‘justice’, ‘equity’, ‘modesty’, and ‘mercy’, are contrary to our passions.
CURACAO COURT INTERVENES IN POLITICAL APPOINTMENT
- May 12, 2012 3:15 PM
Political appointments unacceptable
The Court of First Instance of Curacao passed judgment on 23 January 2012 in the case of Selikor N.V. versus Drs. Ivar Asjes (JOR 2012, 105). This case is a follow-up to the judgment of the Joint Court of Appeal of the Netherlands Antilles and Aruba of 10 August 2010, JOR 2010, 296.
MINISTER OF JUSTICE ECONOMICAL WITH THE TRUTH
- May 09, 2012 11:26 AM
Minister of Justice of Curacao should step down
The Antilliaans Dagblad today published the letter sent by Minister of Justice, Elmer ‘Kadè’ Wilsoe (PS), to Hillary Rodham Clinton and Eric H. Holder on 25 April 2012. From this letter it follows that Wilsoe tried to interfere with the investigation by the Public Prosecutor (OM) into Robbie Dos Santos, Ponsford Overseas and Tula Finance (the ‘Bientu’ investigation).
INQUIRY PROCEDURE IN CURACAO
- May 04, 2012 3:54 PM
Important court decision for the local trust practice
On 30 March 2012 the first petition for an inquiry procedure under the new law was dealt with by the Joint Court of Justice of Aruba, Curacao and St. Maarten, and of Bonaire, St. Eustatius and Saba.
PARALLEL DEBT IN CURACAO
- March 09, 2012 11:37 AM
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New legislation
It has become market practice in Curacao, and also in the Netherlands, to create a separate (parallel) obligation, owed by the borrower (or guarantor) to the security agent in its own name, on the terms and in an amount equal to the original (principal) obligations owing by the borrower (or guarantor) to the lenders.
CURACAO TRUST LEGISLATION
- March 09, 2012 11:30 AM
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Entered into force on 1 January 2012
On January 1st 2012, new legalization entered into force pursuant to which it is now possible to set up a trust, similar to the trust in Anglo-Saxon common law jurisdictions, in Curacao.
WILL 2012 BE A BETTER YEAR?
- January 13, 2012 5:10 AM
It depends on us!
What do you and I have in common? That we probably, just like all other people on earth, are descended from a people that lived in Africa in a far past.
THE ENFORCEMENT OF A JUDGEMENT BY THE COURTS IN CURACAO
- October 06, 2011 10:16 AM
Judgments are immediately enforceable most of the time
According to Article 55, par. 1 of the Curacao Code of Civil Procedure, opposition (in the case of a default judgment) or appeal (in the event of adversarial proceedings) prevent the enforcement (execution) of a judgment unless the decision is ‘enforceable notwithstanding opposition or appeal’ a.k.a. a judgment which is declared ‘immediately enforceable’ (‘uitvoerbaar bij voorraad is verklaard’).
SUMMARY PROCEEDINGS IN ARUBA, BONAIRE, CURACAO AND SAINT MAARTEN
- July 25, 2011 5:22 PM
Preliminary relief within several weeks, sometimes within days or hours
In all matters for which an immediate injunction, measure, or decision is required, the parties may address themselves to the Courts. If the matter does not require immediate resolution, the Court will deny the relief sought and refer the parties to the normal procedure.
SECURITIZATION IN CURACAO
- July 25, 2011 5:11 PM
Curacaoan special purpose vehicles are commonly used in cross–border financing transactions
Curacaoan special purpose vehicles (SPVs) are commonly used in both cross–border financing transactions as well as in Curacao domestic financing transactions.
THE ANNUAL ACCOUNTS OF A LARGE CURACAO COMPANY
- July 25, 2011 5:10 PM
Stricter rules for large companies
Under Curacao law the annual accounts of limited liability companies which do not qualify as so called large companies, need to be prepared in accordance with generally accepted standards and shall provide sufficient insight as to enable a sound judgment to be formed regarding the assets and the results and, to the extent the nature of the annual accounts so permit, regarding the solvency and liquidity of the company (article 2:116 (4) Curacao Civil Code).This is comparable to the principles of good business practice (goed koopmansgebruik).
STATE-OWNED ENTERPRISES LACK OF INDEPENDENT SUPERVISION
- June 14, 2011 4:49 PM
Independent supervision should be mandatory for government-owned entities
It has been my opinion for many years already that government-owned companies should be kept out of the political sphere as much as possible, so that they may benefit from a commercial, businesslike and market-oriented management. In doing so they also run less of a risk of being milked or used as political toys.
TRUST SERVICE PROVIDERS IN CURACAO
- May 31, 2011 12:46 PM
TSPs are supervised by the Central Bank
Many international group structures include one or more Curacao legal entities or partnerships. The main reasons for this are the internationally competitive conditions for business development in the area of corporate law and the tax system in Curacao, as well as the well-developed professional financial services industry.
BANKING REGULATIONS IN THE DUTCH CARIBBEAN
- May 16, 2011 7:23 AM
Soliciting funds requires a license
The Netherlands Antilles was dissolved on October 10, 2010. Prior to that date the Netherlands Antilles consisted of Curacao, St. Maarten, Bonaire, St. Eustatius, and Saba, and formed, together with the Netherlands and Aruba, the Kingdom of the Netherlands.
WHO DETERMINES THE POLICY OF A DUTCH CARIBBEAN COMPANY?
- May 05, 2011 4:02 PM
The management board is in charge
The shareholders have the authority to determine the general policy of a Dutch Caribbean NV or BV.
De visie van het Land Curacao op overheidsvennootschappen is fundamenteel verkeerd
- April 17, 2011 4:54 PM
In opdracht van het Land Curacao zijn recent modelstatuten voor overheidsvennootschappen opgesteld. Blijkens de toelichting daarbij wordt op de bijzondere positie van deze NV’s ingegaan.
THE UTOPIAN LAWYER
- April 13, 2011 7:08 AM
Dare to dream!
A high degree of civilisation must be expected from the ideal advocate (attorney; lawyer) as well as a high degree of learning and expertise.
THE LAWYER AS A VIRTUOSO OF LANGUAGE (PART II)
- April 08, 2011 5:53 AM
The use of technical concepts has a useful function
Another example is the Directive of the European Commission of 18 February 1985 * adapting to technical progress Council Directive 71/127/EEC on the approximation of the laws of the Member States relating to rear-view mirrors of motor vehicles.
THE LAWYER AS A VIRTUOSO OF LANGUAGE (PART I)
- April 05, 2011 7:35 AM
The use of technical concepts has a useful function
Language is the instrument par excellence of the advocate (attorney; lawyer). He uses language to lay down agreements, to provide legal advices, to formulate Court documents, to send demand letters, to make his plea or to conduct talks with clients or counterparties, to send invoices, in short: to practice his profession.
THE LAWYER AS ORATOR
- April 05, 2011 7:31 AM
A sensitive subject
The advocate (attorney; lawyer) as orator is a sensitive subject. Many clients will have listened with curled toes or alternatively with a deep feeling of embarrassment to their own advocate or (if they are lucky) to that of their counterparty at the moment suprême when the so-carefully prepared written summary of the argument is read out dryly and stumbling over the words or at least in a scarcely inspiring manner.
Lawyer Roeland Zwanikken considers legal action against ABN AMRO Bank
- May 08, 2021 6:14 PM
Fiscaal onderzoek bij notariskantoren vinden doorgang
- May 07, 2021 8:04 AM
Juridische miljoenenstrijd tussen BNP Paribas en Italiaanse prinses verhardt
- February 22, 2021 4:51 PM
- Bezit van Italiaanse Crociani-familie op Curaçao mag van rechter worden verkocht
- De Crociani's ruziën al jaren met BNP Paribas over een claim van $100 mln
- Curaçaos trustkantoor United Trust heeft 'geen enkele relatie meer' met Camilla Crociani