Bonaire, St. Eustatius and Saba (BES) Within a couple of years, the BES Islands, as public entities, will be part of the country of the Netherlands in the framework of the political restructuring in the Kingdom of the Netherlands. The US dollar will be introduced as the new currency in the BES Islands. Curacao and… Continue reading BES LAW DEVELOPMENTS
Author: Karel Frielink
AGENCY AND DISTRIBUTION AGREEMENTS IN THE NETHERLANDS CARIBBEAN (I)
Commercial Agency Agreement According to Section 7:428, Paragraph 1, of the Netherlands Antilles Civil Code, a commercial agency contract (agentuurovereenkomst) is a contract for services whereby one party, the principal, instructs the other party, the commercial agent, and whereby the latter binds himself, for a fixed or indeterminate term and for remuneration, to act as… Continue reading AGENCY AND DISTRIBUTION AGREEMENTS IN THE NETHERLANDS CARIBBEAN (I)
UNLAWFUL ACTS UNDER ARUBAN LAW
Several requirements apply Article 6:162 section 1 of the Aruba Civil Code (Aruba CC) stipulates four conditions for someone’s obligation to compensate damage based on an unlawful act (tort): A person has committed an unlawful act (‘onrechtmatige daad’) against another person; and The act can be attributed (‘toegerekend’) to that person; and Some other person… Continue reading UNLAWFUL ACTS UNDER ARUBAN LAW
THE ANNUAL ACCOUNTS OF LARGE DUTCH CARIBBEAN COMPANIES
Stricter rules for large companies Under Netherlands Antilles law the annual accounts of limited liability companies which do not qualify as so called large companies, need to be prepared in accordance with generally accepted standards and shall provide sufficient insight as to enable a sound judgment to be formed regarding the assets and the results… Continue reading THE ANNUAL ACCOUNTS OF LARGE DUTCH CARIBBEAN COMPANIES
CONVERSION OF A DUTCH CARIBBEAN LIMITED LIABILITY COMPANY
An NV may be converted into a BV and vice versa The Netherlands Antilles Civil Code provides for an NV to be converted into a BV and vice versa. Conversion does not terminate the existence of the legal entity. Conversion requires a resolution. A resolution to convert and to amend the articles has to be… Continue reading CONVERSION OF A DUTCH CARIBBEAN LIMITED LIABILITY COMPANY
TRANSACTIONAL POWER OF THE MANAGING BOARD OF A DUTCH CARIBBEAN CORPORATION (II)
Only corporations may plead absence of representative authority Under the Netherlands Antilles Corporate Code, i.e. Book 2 of the Civil Code, transactions with third parties that violate either the law or any limitations on the transactional powers of the board of directors of a corporation, are not enforceable against the corporation if the limitations are… Continue reading TRANSACTIONAL POWER OF THE MANAGING BOARD OF A DUTCH CARIBBEAN CORPORATION (II)
TRANSACTIONAL POWER OF THE MANAGING BOARD OF A DUTCH CARIBBEAN CORPORATION (I)
Limitations must be disclosed to have effect Netherlands Antilles law provides that, subject to restrictions laid down by the Netherlands Antilles Corporate Code or a corporation’s articles of association, the board of directors of a corporation shall be competent to represent the corporation, e.g. a limited liability company (‘naamloze of besloten vennootschap’; NV or BV).… Continue reading TRANSACTIONAL POWER OF THE MANAGING BOARD OF A DUTCH CARIBBEAN CORPORATION (I)
STATUTORY LIMITATIONS FOR FILING A CLAIM UNDER ARUBAN LAW
Five year period With respect to the limitations under Aruban law for filing a claim, the pertinent legal provisions governing limitations are set out in Book 3, Title 11 (Rights of Action) of the Aruban Civil Code. According to Article 310 the right of action for compensation for damage is prescribed up to the end… Continue reading STATUTORY LIMITATIONS FOR FILING A CLAIM UNDER ARUBAN LAW
SPOTLIGHT ON CURACAO
Curacao economic country survey inserted in the New York Post In May 2009, United International Press (UIP) issued a special bulletin on Curacao, the Netherlands Antilles, in an insert in the New York Post. UIP has also placed the bulletin on its website. Curacao is described as a Caribbean Hub with Investment Appeal. Amongst various government… Continue reading SPOTLIGHT ON CURACAO
WHAT DAMAGES ARE RECOVERABLE UNDER ARUBAN LAW? (II)
Case law The Supreme Court in its case law has held that relatives of a deceased person are only entitled to sue for damages against the person liable for his or her death, if and to the extent that their death has left them in need. The extent of need is measured by the standard… Continue reading WHAT DAMAGES ARE RECOVERABLE UNDER ARUBAN LAW? (II)
WHAT DAMAGES ARE RECOVERABLE UNDER ARUBAN LAW? (I)
Nature and extent determined by the Civil Code When considering the nature and extent of damages that are recoverable under Aruban law, the point of departure is Book 6, Title 1 (Obligations in General), Section 10 (Legal Obligations to Make Reparation of Damage), Article 95 of the Aruban Civil Code which states: ‘the damage which… Continue reading WHAT DAMAGES ARE RECOVERABLE UNDER ARUBAN LAW? (I)
CURACAO CHAMBER OF COMMERCE ON REFERENDUM
Kámara di Komèrsio Kòrsou: Un voto ‘NO’ ta funesto pa klima ekonómiko. Un voto ‘NO’ ta funesto pa pueblo di Kòrsou. Karel Frielink: Bo ta kere ku futuro ta mas importante ku pasado? SI Bo ta kere mester solushoná nos debenan? SI Bo ta kere ku e pakete ta un base pa drecha ekonomia i… Continue reading CURACAO CHAMBER OF COMMERCE ON REFERENDUM