The employer’s obligation to award severance pay is mandatory
The Netherlands Antilles Severance Ordinance obliges the employer to award an employee whose employment terminates, a single payment (article 3 Paragraph 1). This single payment is a ‘statutory payment’ as distinct from compensation for e.g. early termination of an employment agreement, usually also called a severance payment.
An […]
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23 October 06: Interview with EU internal market commissioner Charlie McCreevy for German magazine “Der Spiegel” on the „Lotto war“ between the EU and Germany:
“Same right applies to all”
Spiegel: “Still in this year the German (federal) Prime Ministers are planning to sign a new lottery state treaty and by doing that cementing the current state […]
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The law protects creditors
In general, Netherlands Antilles law does not prohibit transfers for no consideration. However, it should be pointed out that under Netherlands Antilles law statutory provisions exist which see to it that no transactions are done for no other reason than to disadvantage creditors or making recourse of creditors impossible. For example, Section […]
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Several measures available to the Central Bank
The Netherlands Antilles Ordinance on the Supervision of Banks and Credit Institutions 1994 provides for several measures that may be implemented with respect to a credit institution, including in view of liquidity or solvency concerns. The legal provisions with respect to a moratorium under the Bankruptcy Act do not […]
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100,000 members milestone for Ecademy
Today, Ecademy has reached the milestone of 100,000 members. Ecademy is a business and social networking site founded by Penny and Thomas Power.
I’m using Ecademy for business networking. Why? Ecademy provides business people around the world with:
Trusted business introductions and referrals
Advertising for your business across the globe
Employees, partners, suppliers and customers
Admission […]
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Registration of aircrafts
In accordance with article 2 of the Netherlands Antilles Aviation Ordinance (P.B. 2001, no. 151) it is prohibited to fly with an aircraft which is (a) not provided with a valid proof of registration, (b) not provided with a nationality mark and a registration mark, (c) not provided with a valid proof of […]
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No derivate suit
If the assets of a company are impaired by a third party in a way that cannot be accepted by the law, e.g. an act of tort, and as a result of which the value of the shares in principle decreased, it is only the company that is authorized and entitled to take […]
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Ondernemende Transactie Advocaat M/V
Spigthoff Advocaten & Belastingadviseurs te Curacao is op zoek naar een ondernemende advocaat (M/V) met minimaal 3 jaar ervaring in de (financiële) transactiepraktijk. Ter versterking van het team van Banking, Finance en M&A advocaten wordt gezocht naar een enthousiaste kandidaat die […]
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The bankruptcy trustee has exclusive powers
In a bankruptcy, the rights and powers to which the bankrupt company is entitled (for example the challenge of a claim) may only be exercised by the bankruptcy trustee.
Also, only the bankruptcy trustee may exercise significant rights to which every individual creditor is entitled outside of the bankruptcy. For example, […]
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The petitioner must have an interest
In proceedings pending between two or more parties, a third party may file a motion requesting a so-called joinder.
The Dutch Supreme Court (May 3, 1957, NJ 1959, nr. 62) decided that a request for joinder between parties in pending proceedings may only be sustained, if there is proof of an […]
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