Karel’s Legal Blog

Legal services, legal advice, a legal forum, free legal advice?
If you are searching the internet what exactly are you looking for and what do you expect to find? Legal services, legal advice, a legal forum, free legal advice, tax advice or tax services?
This legal weblog is now up en running for about five months. Your [...]

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Here are a few reasons out of many

A favorable tax regime is one reason for establishing a fund on Curacao, the Netherlands Antilles. Also, Curacao has become very attractive since under new corporate law a private limited liability company (‘besloten vennootschap’) can be established very quickly and very flexible. Virtually everything is possible with this [...]

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Only the debtor may ask for a moratorium

A moratorium of payments (�surseance van betaling�) is a court-ordered general suspension of a debtor’s obligations; its purpose is to avoid the debtor’s bankruptcy in the interest of both the debtor and his creditors. The moratorium is to a certain extent comparable with the US Chapter 11.
A moratorium [...]

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What are his choices for the establishment of a business venture?
Today, 5 December 2005, in the Netherlands, the Netherlands Antilles, Aruba and the northern part of Belgium we celebrate the birthday of� ‘Sinterklaas’ (Saint Nicholas); no not Santa Claus? he has to wait another three weeks. Sinterklaas did actually exist; he was the archbishop of [...]

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Time-share owners will be better protected

Time-share means you are buying the right to spend time - usually one or two weeks once every year - in a particular property. On December 1, 2005, the new act on time-share rights became effective in the Netherlands Antilles (St. Maarten, Curacao, Bonaire, Saba and St. Eustatius). The Act [...]

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The moratorium rules are not applicable to banks and insurance companies
The Netherlands Antilles Bankruptcy Decree 1931 is applicable to all corporations, associations, foundations, partnerships and individuals; insurance companies and banks (including Netherlands Antilles Branches of foreign banks) not excluded.
However, the provisions in respect of moratorium (�surs�ance van betaling�) are not applicable in respect of insurance [...]

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A method to reduce a credit risk
A credit default swap is an agreement between two parties which allows the transfer of a third party credit risk from one party (the lender) to the other. The lender, for example a bank, faces a credit risk if it borrows money to a client and it may want [...]

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