Author: Karel Frielink

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

The right form for small businesses On March 1, 2004 the new act on corporate law (Book 2 Civil Code; the ‘Act’) became effective. The Act shows a bold new approach to Netherlands Antilles corporate law as such. Until March 1, 2004 only manager-managed companies were known. According to the Act, the articles may provide… Continue reading NETHERLANDS ANTILLES MEMBER-MANAGED COMPANY

The Private Foundation can be used for tax planning and asset protection The Netherlands Antilles Private Foundation has been introduced in the Netherlands Antilles Law through the National Ordinance Regarding Foundations as published on October 31, 1998. Since March 1st, 2004, these rules are laid down in Book 2 of the Civil Code. The Private… Continue reading THE NETHERLANDS ANTILLES PRIVATE FOUNDATION

Is it a mysterious place? The Netherlands Antilles form part of the Kingdom of the Netherlands. The other members of the Kingdom are Aruba and the Netherlands. The Netherlands Antilles in turn consist of five islands: Bonaire and Curacao (together with Aruba constituting the so-called ABC Islands, or Leeward Antilles, located in the South western… Continue reading THE NETHERLANDS ANTILLES

The Netherlands Antilles provide a favorable climate for hedge funds The Netherlands Antilles currently provide a favorable tax, legal and regulatory climate for hedge funds. A fund vehicle can be established very quickly and very flexible. Also, a new regulatory regime regarding the supervision of investment institutions and administrators and new anti-money laundering rules provides… Continue reading NETHERLANDS ANTILLES HEDGE FUNDS

Corporate legislation in the Netherlands Antilles The law of the Netherlands Antilles (part of the Kingdom of the Netherlands) is still in full swing. The Netherlands Antilles government on a continuing basis is striving to introduce legislation and regulatory regimes in order to enhance its ability to attract quality business, and enable the country to… Continue reading THE ULTIMATE CORPORATE ADVENTURE