New home run king from Curaçao crowned in Japan Tokyo Yakult Swallows player Wladimir “Coco” Balentien from the island of Curaçao, a former major leaguer hit his 56th and 57th home runs on Sunday September 15, 2013, breaking the Japanese single-season record set by Sadaharu Oh 49 years ago. “Former big-league outfielder Wladimir Balentien, Japan’s… Continue reading CURACAO CONGRATULATES WLADIMIR “COCO” BALENTIEN WITH HIS 56TH AND 57TH HOME RUN
Author: Karel Frielink
INSOLVENCY AND LIABILITY
Not (or late) filing for bankruptcy In Curaçao, there is no statutory obligation for managing directors of a company to file for the bankruptcy of the corporation. Therefore, managing directors are not responsible to the creditors for damages sustained by them as a result of any ‘late’ filing for bankruptcy. There is no such obligation… Continue reading INSOLVENCY AND LIABILITY
ON THE BRIDGE OF THE OSPREY EXPLORER WITH THE CAPTAIN
Me on the left… Click here to learn more about the 2D S/V Osprey Explorer and click here to learn more about reflection seismology. Bij 2D of tweedimensionale seismiek worden langs een lijn aan het aardoppervlak trillingen opgewekt. Er wordt gebruik gemaakt van een air gun (of seismische vibrator), een apparaat dat vlak achter het schip… Continue reading ON THE BRIDGE OF THE OSPREY EXPLORER WITH THE CAPTAIN
IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)
2nd degree director as director of a foreign corporate director It appears from the 2011 ruling referred to by the Supreme Court that Section 2:11 of the Dutch Civil Code is applicable to the joint and several liability of a director of a Dutch legal entity being a director of another Dutch legal entity. The… Continue reading IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)
IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (I)
Liability of the 2nd degree director Under Section 2:17 subsection 1 of the Curaçao Civil Code, the liability of a legal entity as a director of another legal entity (the direct or 1st degree director) also rests jointly and severally on each person who at the time this liability arose for the legal entity was… Continue reading IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (I)
DIRECTORS’ LIABILITY IN CURACAO
Quasi-director may be held liable too The members of the board of managing directors are personally and severally liable towards the limited liability company (NV or BV) for any loss caused by the improper performance of duties. Each member of the board who proves that he cannot be blamed for such improper performance and that… Continue reading DIRECTORS’ LIABILITY IN CURACAO
FRIS EN FRUITIG
Over het verkopen van dorstlessers en advocaten Waarom koopt iemand frisdrank A wel, frisdrank B niet en frisdrank C af en toe? Een kwestie van smaak? Zeker. Een kwestie van prijs? Dat ook. Een kwestie van kwaliteit (en de hoeveelheid of juist het ontbreken van schadelijke ingrediënten)? Niet zelden. Een kwestie van gemoedstoestand? Zal ongetwijfeld… Continue reading FRIS EN FRUITIG
ASSET PROTECTION IN CURACAO
Curaçao: a jurisdiction not to be missed A Curaçao private foundation or a trust is often used for asset protection and privacy purposes. The Curaçao private foundation and the Curaçao trust must be set up by a notarial deed executed before a civil law notary in Curaçao. Both the private foundation and the trust are… Continue reading ASSET PROTECTION IN CURACAO
SERVICE OF PROCESS
A bailiff must be engaged What is the procedure for the service of foreign proceedings under the procedural laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba for a company having its registered address in one of those territories, for instance Curaçao? Under Curaçao procedural law, the service of proceedings on a Curaçao… Continue reading SERVICE OF PROCESS
HEDGE FUNDS FLOCK TO CURACAO
Citco once again most popular administrator for hedge funds WILLEMSTAD – Citco is once again the most popular administrator for hedge funds, topping the annual Absolute Return ranking for the fifth consecutive year. The international firm, which has led the survey every year since its inception, further increased its market share to 23.03%, approximately 1.2… Continue reading HEDGE FUNDS FLOCK TO CURACAO
THE COSTS OF LITIGATION
Parties have to bear their own attorney costs Under the laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba, generally speaking, each party has to bear its own attorney costs, except if there is an agreement in place between the parties providing for such compensation. Other costs related to proceedings are for instance… Continue reading THE COSTS OF LITIGATION
SEIZING ASSETS IN THE DUTCH CARIBBEAN
Court approval required, but freezing assets is rather easy Under the laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba any party with a prima facie claim may file a petition for a court order granting an attachment, which petitions are generally granted, solely based on the allegations in the petition. Seizing assets… Continue reading SEIZING ASSETS IN THE DUTCH CARIBBEAN