Lecture on inquiry procedure

March 30, 2011 3:15 PM

On 16 March 2011 Karel Frielink lectured on certain proposed legislation which introduces a so-called inquiry procedure (‘enquête’) for, amongst others, limited liability companies in Aruba, Curacao, St. Maarten, the BES-islands and Surinam.

The inquiry procedure (a.k.a. investigation proceedings) can result in a court ordered investigation into the affairs of a corporation. The Joint Court can order an investigation into the affairs of the corporation if there are justified reasons to doubt the soundness or correctness of the corporation’s policies, and may take provisional measures as well, for example, the temporary transfer of (certain) shares to a nominee or the suspension of board members. Examples of justified reasons include allegations of violations of law, irregularities, conflicts of interest, deadlocks at board or shareholder level, disputes between board members and/or shareholders, and insufficient provision of information to shareholders.

Click here for the full text of the lecture in Dutch.

March 2011