Category: Legal

An insurance to protect employees against the financial consequences of accidents The National Ordinance Accident Insurance (‘OV’) contains rules about the insurance of employees against occupational accidents. Among others the OV regulates the right of the employee to medical treatment and nursing care, financial allowances for occupational disability, the premiums that have to be paid… Continue reading NATIONAL ORDINANCE ACCIDENT INSURANCE OF THE NETHERLANDS ANTILLES

Certain requirements must be met Pursuant to the Netherlands Antilles Civil Code (article 6:127 et seq), the authority to set-off (‘verrekeningsbevoegdheid’), exists if (i) the receivable and the debt (a) are between the same parties and correspond with each other (‘aan elkaar beantwoorden’) and (b) fall in the same estate (‘vermogen’) at both ends and… Continue reading SET-OFF UNDER THE LAWS OF THE NETHERLANDS ANTILLES

The principle of territoriality has been adopted There is no Netherlands Antilles legislation prescribing the effects in the Netherlands Antilles of a foreign bankruptcy. The Supreme Court (‘Hoge Raad’) in the Hague, the Netherlands, being the Supreme Court for not only the Netherlands, but also Aruba and the Netherlands Antilles, has adopted the territoriality principle… Continue reading CROSS-BORDER BANKRUPTCY AND THE LAWS OF THE NETHERLANDS ANTILLES

An expatriate enjoys certain tax advantages The Expatriates rules are defined in the Expatriates Decree 1998. An Expatriate is an employee in an employer – employment relationship that immediately and prior to his employment in the Netherlands Antilles, has lived abroad during a continuous period of at least five years. If all conditions for the… Continue reading BEING AN EXPATRIATE IN THE NETHERLANDS ANTILLES

The Actio Pauliana is centuries old The so-named ‘actio Pauliana‘ enables both third parties and the trustee in bankruptcy to nullify legal acts that would prejudice their ability to find assets against which to take recourse. The requirements are the following: (a) a legal act performed by the debtor; (b) the debtor was not obliged… Continue reading FRAUDULENT CONVEYANCE UNDER THE LAWS OF ARUBA

Does the company still exist? Suppose you obtain an extract from the Aruban Chamber of Commerce regarding your company. Although the extract mentions that ‘the company is discontinued since December 30, 2005′ you actually know that it is still alive and kicking. The following serves as a clarification of this somewhat confusing situation. The company… Continue reading YOUR COMPANY HAS BEEN DE-REGISTERED IN ARUBA

The recognition and enforceability of foreign judgments in the absence of a treaty In the absence of an applicable treaty between a foreign country (for example the U.S.) and Aruba, a judgment rendered by a U.S. court, will not be enforced by the court of Aruba. In order to obtain a judgment which is enforceable… Continue reading U.S. JUDGMENTS AND ARUBA

The ultimate recourse against a company not paying its debts The application for a bankruptcy order can be made either by the debtor itself or by one or more of its creditors. If the debtor is a company, the managing directors do not have the authority to file a petition for bankruptcy of the company… Continue reading FILING FOR BANKRUPTCY ON ARUBA

Where are the shares and where can they be seized? Aruba has a broad range of possibilities for creditors to get security for an alleged claim, even before judgement. Suppose you want to collect a claim and you are considering putting certain or all of your counterparty’s assets under arrest (freezing/seizing assets or conservatory attachment)… Continue reading THE LOCATION OF SHARES UNDER THE LAWS OF ARUBA

Preliminary hearing of witnesses Although witnesses are most commonly heard during legal proceedings, they may be heard before. The preliminary hearing of witnesses is a special procedure created to avoid unnecessary proceedings or proceedings based on a mistaken legal assumption or mistaken identity. A request to examine witnesses prior to the proceedings is made to… Continue reading LEGAL PROCEEDINGS ON ARUBA

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 PRELIMINARY RELIEF PROCEEDINGS ON ARUBA

High denomination dispensation Further to the previous posting, investment institutions that offer their participating interests only or also to natural persons and/or legal entities considered by the Central Bank to have comparable skills and competency as professional parties to form their own balanced opinion about the offer being made, may in individual cases be exempted.… Continue reading FOREIGN INVESTMENT INSTITUTIONS IN THE NETHERLANDS ANTILLES (IV)