Month: January 2006

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 the Netherlands Antilles, a judgment rendered by a U.S. court, will not be enforced by the Netherlands Antilles courts. In order to obtain a judgment which… Continue reading U.S. JUDGMENTS AND THE NETHERLANDS ANTILLES

Freedom of such mergers confirmed According to a press release of the European Commission the general refusal in Germany to register a legal merger between companies in the commercial register where one is established in another member state is contrary to community law. “This difference in treatment between companies, according to whether the merger is… Continue reading CROSS-BORDER LEGAL MERGERS IN EUROPE

Trust service providers are supervised by the Central Bank On 23 December 2003, the National Ordinance on the Supervision of Trust Service Providers 2003 (‘Landsverordening toezicht trustwezen’) entered into force, which would place most trust offices and corporate services providers under direct supervision of the Central Bank. By virtue of this Ordinance, the National Ordinance… Continue reading TRUST SERVICE PROVIDERS IN THE NETHERLANDS ANTILLES

Where are the shares and where can they be seized? The Netherlands Antilles 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… Continue reading THE LOCATION OF SHARES UNDER NETHERLANDS ANTILLES LAW

Will Daniel Pink’s ‘A Whole New Mind’ change our lives? Daniel Pink’s well-written book ‘A Whole New Mind’ describes how the world is moving from the Information Age (left-brain dominance) to the Conceptual Age (right-brain) and what it takes for individuals and organizations to excel. Pink discusses six aptitudes which he believes to be essential… Continue reading HOW SHOULD LAWYERS ADAPT TO THE CONCEPTUAL AGE?

US GAAP, Dutch GAAP, IAS, IAS Plus, IFRS? Under Netherlands Antilles law, the management board of each legal entity is required to keep books for the financial condition of such entity in such a manner that the rights and obligations can be ascertained therefrom at any time: the adequate bookkeeping obligation. Violation of this obligation… Continue reading THE NETHERLANDS ANTILLES APPROACH TO ACCOUNTING PRINCIPLES

The Corporate Code provides for a simplified merger procedure The acquisition of a business enterprise may take place through the purchase of shares (take-over), the purchase of assets and liabilities or a legal / statutory merger. The Netherlands Antilles Code on corporate law and other legal persons (the ‘Code’) contains detailed provisions for mergers of… Continue reading LEGAL MERGERS IN THE NETHERLANDS ANTILLES

Legal battle between minority shareholders of Hunter Douglas and Bergson Holdings Hunter Douglas NV is a company established in the Netherlands Antilles. It is the worlds largest producer of window blinds (Luxaflex) and a major manufacturer in architectural products. Its shares are listed at the Amsterdam stock exchange, Euronext. Bergson Holdings NV is also a… Continue reading PUBLIC TAKE-OVER RULES IN THE NETHERLANDS AND THE NETHERLANDS ANTILLES

Judge Samuel Alito would not face a political debate in the Netherlands Antilles US Supreme Court nominee Samuel Alito answered a lengthy questionnaire from the Senate Judiciary Committee. The Committee will begin considering his nomination today, 10 January 2006. Both lawmakers and special interest groups are participating in the debate. The process of filling a… Continue reading THE APPOINTMENT OF JUDGES IN THE NETHERLANDS ANTILLES VS THE USA

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‘)… Continue reading SUMMARY PROCEEDINGS IN THE NETHERLANDS ANTILLES

Netherlands Antilles special purpose vehicles are commonly used in cross-border financing transactions Netherlands Antilles special purpose vehicles (SPVs) are commonly used in both cross-border financing transactions as well as in Netherlands Antilles domestic financing transactions. As regards cross-border transactions, (synthetic and cash) securitizations, repackagings, collateralized debt obligations (CDOs) and collateralized loan obligations (CLOs) and leasing… Continue reading SECURITIZATION & THE NETHERLANDS ANTILLES