BREACH OF CONTRACT IN THE DUTCH ANTILLES (I)

Failure to properly perform
Under the Netherlands Antilles Civil Code (CC) breach of contract is defined as a failure to properly perform, perform on time, or to perform at all, which failure is attributable to one of the parties If a debtor breaches his obligations there are various courses of action available to the creditor. Firstly [...]

Filed under: legal by Karel.Frielink
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RESTARTING SECURITIZATION MARKETS IS CRITICAL

IMF: securitization can positively contribute to financial stability and sustainable economic growth
Although recent public opinion has focused on what went wrong with securitization, according to the International Monetary Fund (IMF), it is important to recognize the many benefits associated with sound securitization. Mobilizing illiquid assets and transferring credit risk away from the banking system to [...]

Filed under: Securities by Karel.Frielink
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THE MANAGEMENT OF A DUTCH ANTILLES FOUNDATION

Management must act in the best interests of the foundation
The members of the management board of a Netherlands Antilles foundation have collective powers and responsibilities. The management board shall be in charge of the management of the foundation.
Although not explicitly provided for in Book 2 of the Netherlands Antilles Civil Code, it is considered a [...]

Filed under: Corporate by Karel.Frielink
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CROSS-BORDER CONVERSIONS AND MERGERS IN THE DUTCH ANTILLES

No outbound mergers allowed
According to the laws of the Netherlands Antilles, a limited liability company (NV or BV) may convert to a foreign legal entity provided that under the laws governing such a foreign legal entity the consequence of such conversion shall be the continued existence of the company as a legal entity – in [...]

Filed under: Corporate by Karel.Frielink
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BEARER SHARES IN A NETHERLANDS CARIBBEAN COMPANY

Registered shares must be issued first
On 1 March 2004, the new Netherlands Antilles act on corporate law (Book 2 Civil Code) became effective. Since that date it is no longer possible to (directly) issue bearer shares.
A company with only bearer shares has no shareholders’ register. Only a public limited liability company (NV) may issue bearer [...]

Filed under: Corporate by Karel.Frielink
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