Separate legal entity Generally, securities that must be held by a Netherlands Antilles bank on behalf of its clients will be held by a custodian. In most cases the custodian is either a foundation (‘stichting’) or a wholly owned subsidiary (NV or BV) of the bank. The scope of the activities of the custodian will… Continue reading THE CUSTODY OF SECURITIES IN THE NETHERLANDS CARIBBEAN
Author: Karel Frielink
NETHERLANDS CARIBBEAN BANK N.V. IN LIQUIDATION
Notice of Filing Final Account Notice is hereby given that, pursuant to Section 31, paragraph 7, of the Netherlands Antilles Civil Code, on the 1st of December 2009, the liquidator’s final account has been lodged for inspection at the office of the company (Kaya W.F.G. (Jombi) Mensing 14, Curacao), at the office of the liquidator… Continue reading NETHERLANDS CARIBBEAN BANK N.V. IN LIQUIDATION
NETHERLANDS CARIBBEAN BANKS AND REGULATORY ISSUES
A bank has less freedom than an ordinary legal entity What would be the requirements, from a regulatory point of view, if a Netherlands Antilles bank wished to sell its entire business or a substantial part thereof? Would it require approval from the Netherlands Antilles Central Bank (de ‘Bank van de Nederlandse Antillen’)? Generally, if the… Continue reading NETHERLANDS CARIBBEAN BANKS AND REGULATORY ISSUES
TED – IDEAS WORTH SPREADING
Riveting talks by remarkable people, free to the world How to keep yourself informed about the newest innovations and the most fascinating ideas of our time? Through TED.com (free videos), the TED annual conferences, the annual TED Prize, local TEDx events and TED Twitter. TED stands for Technology, Entertainment, Design. TED is an academic organization owned… Continue reading TED – IDEAS WORTH SPREADING
AN INCONVENIENT TRUTH, A CONVENIENT LIE?
Global Warming Research Data Manipulated? Computer hackers have broken into a server at a well-respected climate change research center of a University in Britain and posted hundreds of private e-mails and documents online — fueling debate over whether some scientists have overstated the case for man-made climate change (click here). According to the New York… Continue reading AN INCONVENIENT TRUTH, A CONVENIENT LIE?
HELP MAKE CURACAO ABLED
The Laura and Wagner Foundation Fundraising Evening On Thursday December 3, 2009, the Laura and Wagner Foundation are holding a fundraising evening at the Netherlands Antilles Central Bank. Special guests will appear via TeleConference to discuss how to make technology more abled for the disabled. Click here to read the flyer. The Laura and Wagner Foundation… Continue reading HELP MAKE CURACAO ABLED
THE DUTCH CARIBBEAN AND ITS CIVIL LAW SYSTEM
Abstract rules are the starting point The Netherlands Antilles are an autonomous part of the Kingdom of the Netherlands. The Kingdom of the Netherlands is composed of three parts: the Kingdom in Europe (popularly known as Holland, north of Belgium and west of Germany), the Netherlands Antilles (in the Caribbean Sea, north of Venezuela), and Aruba… Continue reading THE DUTCH CARIBBEAN AND ITS CIVIL LAW SYSTEM
THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (III)
Case law the principle of good faith A legal entity and all involved in its organization have a legal duty to behave towards each in accordance with the principles of reasonableness and fairness, i.e. (objective) good faith. A provision or requirement contained in a legal entity’s articles of association or by-laws, may be set aside… Continue reading THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (III)
THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (II)
Limitations on the applicability of provisions As a general matter of Netherlands Antilles law, the interpretation of terms contained in legal documents, such as the articles of association and the by-laws, however only to a certain extent, inter alia subject to the intention of the parties, and the enforcement thereof, is subject to the overriding… Continue reading THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (II)
THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (I)
Ranging from basic to extremely complex Under the laws of the Netherlands Antilles, public and private limited liability companies (NVs or BVs), foundations, co-operatives, mutual insurance societies and associations are considered legal entities. The articles of incorporation (a.k.a. articles of association) provide the regulatory framework by which these legal entities in the Netherlands Antilles are… Continue reading THE ARTICLES OF ASSOCIATION OF A DUTCH CARIBBEAN LEGAL ENTITY (I)
AMSTERDAM COURT OF APPEAL ON LIABILITY OF TRUST DIRECTORS
Trust directors not treated differently from regular directors The board of directors of an NV or BV may contractually agree to a limitation of its powers to manage the company. Such arrangements are typical for trust offices engaged by a foreign ultimate beneficiary to render services to ‘his’ company, i.e. the client of a trust… Continue reading AMSTERDAM COURT OF APPEAL ON LIABILITY OF TRUST DIRECTORS
CARIBBEAN KIDS NEWS
The Dutch Antillean ‘Jeugdjournaal’ The Curacao-based Foundation Youth Into Media (Stichting Youth Into Media) is responsible for the sustainable development of a youth news program – Caribbean Kids News – on television and the internet for the Netherlands Antilles and Aruba. The first show of ‘Caribbean Kids News’ was on September 14, 2009 on TeleCuracao. Caribbean… Continue reading CARIBBEAN KIDS NEWS