Karel’s Legal BlogLOOKING FOR AN ATTORNEY / LAWYER / TAX ADVISER IN THE NETHERLANDS ANTILLES OR ARUBA?
The articles may provide for an instruction right
I received a question about controlling one’s subsidiaries. I assume that the (Netherlands Antilles) holding owns the majority of shares in the subsidiaries.
In general, it is the (managing board of a) holding company that exercises voting rights attached to the shares in its subsidiaries, i.e., the holding in […]
Filed under: legal by Karel.Frielink
No Comments »
Relative effect only
A conservatory attachment (or arrest) serves the purpose of trying to prevent a debtor from frustrating recovery by his creditor, for example, by alienating, removing, or hiding assets. However, under Netherlands Antilles law an attachment has a relative effect only: any subsequent transfer would be void in relation to the party that levied […]
Filed under: legal by Karel.Frielink
No Comments »
Local practice may differ from island to island
Some believe that the mortgagee should always procure auction proceeds of at least 70% of the appraised free market value and that the mortgagee may never accept a bid below such amount. The question is, however, whether such a minimum bid prize is required? The answer is no. […]
Filed under: legal by Karel.Frielink
No Comments »
Default could be a ground for early termination
Under Netherlands Antilles law of long lease, a right of long lease (10 years or longer) is forfeit by decision of the court. However, a long lease deed may provide for unilateral termination upon a default in the payment of long lease installments.
Even if the long lease is subject […]
Filed under: legal by Karel.Frielink
No Comments »
Basic overview of the procedure
The appellate procedure in summary relief actions is as follows. The party appellant first files a deed of appeal with the court (a strictly formal document), followed within three weeks by a statement of grievances (“memorie van grieven”), setting forth the objections of the party appellant against the judgement.
The court then […]
Filed under: legal by Karel.Frielink
No Comments »
The request to consent may be treated as a new application
Today I received a question from a visitor to the site. He would like to know whether licenses and permits can be assigned from one party to another by a simple agreement.
Under local law, permits and licenses can only be transferred with the specific consent […]
Filed under: legal by Karel.Frielink
No Comments »
Directors of a fund manager lost job fully unnecessary
On 12 September 2006, the Dutch Trade and Industry Appeals Tribunal (‘College van Beroep voor het bedrijfsleven’), a special administrative court based in The Hague which rules on disputes in the area of social-economic administrative law, nullified several decisions of the Dutch Authority on Financial Markets […]
Filed under: legal by Karel.Frielink
No Comments »
His name and photo may no longer be used
The legendary Dutch football player Johan Cruijff - often spelled Cruyff outside the Kingdom of the Netherlands - got a court order from the Amsterdam district court against the Spain-based real estate developer Colmar (click here for source).
The court order is blocking Colmar from using Johan Cruijff’s name and photo […]
Filed under: legal by Karel.Frielink
No Comments »
Venture capital companies included in exemption regulation
The primary objective of the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (‘Landsverordening toezicht beleggingsinstellingen en administrateurs’) is to introduce a regime of supervision for investment institutions and administrators in the interest of an adequate operation of the financial markets and the position of the […]
Filed under: legal by Karel.Frielink
No Comments »
A limited partnership has no legal personality
A limited partnership (‘commanditaire vennootschap’) under the laws of the Netherlands Antilles has no legal personality but has a contractual basis. A limited partnership can be ‘established’ (concluded) pursuant to the provisions of the Commercial Code (‘Wetboek van Koophandel’) as well as the Civil Code of the Netherlands Antilles.
Limited […]
Filed under: legal by Karel.Frielink
No Comments »