International jurisdiction required
In general, a Netherlands Antilles (e.g. Curacao) court does not have unlimited jurisdiction to impose cross-border injunctions, according to established jurisprudence. It can be deduced from the judgment of March 19, 2004 of the Dutch Supreme Court (Philips / Postech case) that if the court has jurisdiction, it also has jurisdiction to make […]
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Not every application is honored
In order to establish a bank on Curacao (the Netherlands Antilles) a license granted by the Central Bank (‘Bank van de Nederlandse Antillen’) is required. The general rule on Curacao is that new banks are only admitted as long as the banking market provides sufficient opportunities for a sound development in […]
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Antitrust law infringements
John D. Briggs and Sarah Jordan (Howrey) published an article in Business Law International (Vol 8 No 1, January 2007, p. 1-37) titled ‘Presumed Guilty: Shareholder Liability for a Subsidiary’s Infringements of Article 81 EC Treaty’.
Article 81 of the Treaty (full text below) prohibits agreements and concerted practices between firms that distort competition […]
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Foreign jurisdiction must allow conversion
According to Netherlands Antilles law a limited liability company (NV or BV) or foundation can be ‘converted’ into a company governed by another jurisdiction, provided that this is allowed in accordance with the laws of the new jurisdiction. According to, e.g., Dutch law, such conversion to the Netherlands is in principle […]
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A third party may attack a judgment
Sometimes a judgment may affect the rights of a person or company not being a party to those proceedings. If one was not a party to those proceedings, one cannot appeal such a judgment. Third-party-opposition (in Dutch: ‘derdenverzet’) is a remedy granted to third parties (outsiders) whose rights are […]
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Curacao provides a favorable climate for hedge funds
Curacao (part of the Netherlands Antilles) currently provides a favorable tax, legal and regulatory climate for hedge funds. A fund vehicle can be established very quickly and very flexible. Furthermore, the current regulatory regime regarding the supervision of investment institutions and administrators and new anti-money laundering rules provide […]
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Further anti-money laundering measures
In the context of the fight against money laundering, the Netherlands Antilles will adopt legislation in the course of 2007 which extends the identification obligation and the reporting obligation in respect of unusual transactions to attorneys, civil-law-notaries, accountants, insurance companies and brokers, realtors, car dealers and jewelers.
The obligations as imposed by law […]
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Quality Matters. Privately and Professionally
Spigthoff Attorneys & Tax Advisers (Curaçao) offers expertise in a wide-range of practice areas, from mergers and acquisitions, tax, project financing, and cross-border transactions to public offerings. Among our clients are public and privately held commercial businesses, banks and other financial institutions. We are involved in sophisticated corporate and financial transactions […]
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Interpretation may go beyond the four corners of the contract
The question what exactly was agreed between parties to a contract largely depends on the interpretation of the contract, in which principles such as fairness and reasonableness play an important role. In many cases, where contract language is clear and explicit and does not lead to […]
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Court of Justice of the EU, decision of 6th March 2007, in Joined Cases C 338/04, C 359/04 and C 360/04 (Placanica et al.)
Click here for official Press Release
Italian legislation essentially provides that participation in the organizing of games of chance, including the collection of bets, is subject to possession of a license and a […]
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