Karel’s Legal BlogLOOKING FOR AN ATTORNEY / LAWYER / TAX ADVISER IN THE NETHERLANDS ANTILLES OR ARUBA?
The Actio Pauliana is centuries old
The so-named ‘actio Pauliana‘ enables both third parties and the trustee in bankruptcy to nullify legal acts that would prejudice their ability to find assets against which to take recourse. The requirements are the following:
(a) a legal act performed by the debtor;
(b) the debtor was not obliged to perform the […]
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Does the company still exist?
Suppose you obtain an extract from the Aruban Chamber of Commerce regarding your company. Although the extract mentions that ‘the company is discontinued since December 30, 2005′ you actually know that it is still alive and kicking. The following serves as a clarification of this somewhat confusing situation.
The company is probably […]
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The recognition and enforceability of foreign judgments in the absence of a treaty
In the absence of an applicable treaty between a foreign country (for example the U.S.) and Aruba, a judgment rendered by a U.S. court, will not be enforced by the court of Aruba. In order to obtain a judgment which is enforceable in […]
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The ultimate recourse against a company not paying its debts
The application for a bankruptcy order can be made either by the debtor itself or by one or more of its creditors.
If the debtor is a company, the managing directors do not have the authority to file a petition for bankruptcy of the company without authorization […]
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Where are the shares and where can they be seized?
Aruba has a broad range of possibilities for creditors to get security for an alleged claim, even before judgement. Suppose you want to collect a claim and you are considering putting certain or all of your counterparty’s assets under arrest (freezing/seizing assets or conservatory attachment) to […]
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Preliminary hearing of witnesses
Although witnesses are most commonly heard during legal proceedings, they may be heard before. The preliminary hearing of witnesses is a special procedure created to avoid unnecessary proceedings or proceedings based on a mistaken legal assumption or mistaken identity. A request to examine witnesses prior to the proceedings is made to […]
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Preliminary relief within two weeks
In all matters in which an immediate injunction, measure, or decision is required, the parties may address themselves to the Court. If the matter does not require immediate resolution, the Court will deny the relief sought and refer the parties to the normal procedure. Preliminary relief proceedings (’kort geding procedure’) differ […]
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High denomination dispensation
Further to the previous posting, investment institutions that offer their participating interests only or also to natural persons and/or legal entities considered by the Central Bank to have comparable skills and competency as professional parties to form their own balanced opinion about the offer being made, may in individual cases be exempted.
In determining […]
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General professionals-only exemption
Apart from the partial exemptions mentioned in the previous posting, various general exemptions are available. If such a general exemption applies, no further stipulations under or pursuant to the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (’Landsverordening toezicht beleggingsinstellingen en administrateurs’) apply to the investment institution in question.
A general […]
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Partial exemption for foreign investment institutions
In order to receive certain (partial) dispensation from license requirements under the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (’Landsverordening toezicht beleggingsinstellingen en administrateurs’, the ‘NOSIIA’), the Central Bank requires foreign investment institutions to provide their (prospective) investors in the Netherlands Antilles with some additional information. […]
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