Author: Karel Frielink

The Pearl and the Capital of the Caribbean Despite the recent revolutionary changes of the fiscal and e-commerce legal framework in Curaçao, the Island is still not discovered on a broad scale by foreign exporters, especially exporters in Asia (China, Japan, Singapore, India, etc.). In particular those exporters should consider exporting to Latin America using… Continue reading Untitled

A waste of money? Under the laws of the Netherlands Antilles and Aruba, directors of companies can be held liable if they are engaged in grossly negligent or reckless conduct, intentional misconduct, or a knowing violation of law. In principle, such directors cannot be held personally liable for ordinary negligence or ordinary mistakes. Directors liability… Continue reading LIABILTY INSURANCE FOR DIRECTORS OF COMPANIES

Legal services, legal advice, a legal forum, free legal advice? If you are searching the internet what exactly are you looking for and what do you expect to find? Legal services, legal advice, a legal forum, free legal advice, tax advice or tax services? This legal weblog is now up en running for about five… Continue reading WHAT ARE YOU LOOKING FOR?

Here are a few reasons out of many A favorable tax regime is one reason for establishing a fund on Curacao, the Netherlands Antilles. Also, Curacao has become very attractive since under new corporate law a private limited liability company (‘besloten vennootschap’) can be established very quickly and very flexible. Virtually everything is possible with… Continue reading WHY INVESTMENT FUNDS ARE ESTABLISHED ON CURACAO, THE NETHERLANDS ANTILLES

Only the debtor may ask for a moratorium A moratorium of payments (‘surseance van betaling’) is a court-ordered general suspension of a debtor’s obligations; its purpose is to avoid the debtor’s bankruptcy in the interest of both the debtor and his creditors. The moratorium is to a certain extent comparable with the US Chapter 11.… Continue reading MORATORIUM OF PAYMENTS UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA

What are his choices for the establishment of a business venture? Today, 5 December 2005, in the Netherlands, the Netherlands Antilles, Aruba and the northern part of Belgium we celebrate the birthday of  ‘Sinterklaas’ (Saint Nicholas); no not Santa Claus? he has to wait another three weeks. Sinterklaas did actually exist; he was the archbishop… Continue reading SAINT NICHOLAS IS A BUSINESSMAN

Time-share owners will be better protected Time-share means you are buying the right to spend time – usually one or two weeks once every year – in a particular property. On December 1, 2005, the new act on time-share rights became effective in the Netherlands Antilles (St. Maarten, Curacao, Bonaire, Saba and St. Eustatius). The… Continue reading NEW NETHERLANDS ANTILLES TIME-SHARE LEGISLATION

The moratorium rules are not applicable to banks and insurance companies The Netherlands Antilles Bankruptcy Decree 1931 is applicable to all corporations, associations, foundations, partnerships and individuals; insurance companies and banks (including Netherlands Antilles Branches of foreign banks) not excluded. However, the provisions in respect of moratorium (‘surséance van betaling’) are not applicable in respect… Continue reading EMERGENCY MEASURES UNDER THE LAWS OF THE NETHERLANDS ANTILLES

A method to reduce a credit risk A credit default swap is an agreement between two parties which allows the transfer of a third party credit risk from one party (the lender) to the other. The lender, for example a bank, faces a credit risk if it borrows money to a client and it may… Continue reading CREDIT DEFAULT SWAPS UNDER THE LAWS OF THE NETHERLANDS ANTILLES

Derivative suits may help to improve responsible management A derivative suit is a civil lawsuit filed by shareholders on behalf of a corporation (they sue on the basis of a representative capacity) asserting rights of the corporation in the absence of corporate action to protect those rights. Derivative suits are an interesting tool in the… Continue reading NO DERIVATIVE SUIT POSSIBLE UNDER THE LAWS OF THE NETHERLANDS ANTILLES

Is an ISP under an obligation to reveal customer information when the customer misuses the internet? Internet service providers in general shall preserve the confidentiality of the proprietary information and communications of their customers and prohibit the improper access to or use of such information and communications. However, it goes without saying that an ISP… Continue reading INTERNET SERVICE PROVIDERS AND CONFIDENTIALITY UNDER THE LAWS OF THE NETHERLANDS ANTILLES

It all comes down to integrity We all make mistakes. Period. However, there is a difference between making mistakes and intentionally doing something wrong. Many belief that it is a lawyer’s second nature doing things wrong on purpose, especially lying and violating the truth. I have met such lawyers (who hasn’t?), but also many more… Continue reading LAWYERS, MISCONDUCT AND INTEGRITY