Curaçao court as court of last resort for civil matters An attachment on assets located in Curaçao generally establishes jurisdiction over the cause of action for which the attachment is made, also if neither of the parties involved are domiciled in Curaçao. According to Section 767 of the Curaçao Code of Civil Procedure, the Curaçao… Continue reading THE COURT OF LAST RESORT
150 JURIDISCHE PUBLICATIES
Een persoonlijke mijlpaal Afgelopen donderdag was het dan zo ver: mijn 150e juridische publicatie zag het levenslicht. Het gaat om mijn bijdrage aan het Liber Amicorum ‘Christels Koers’ dat toen werd aangeboden aan prof.mr. drs. C.M. Grundmann-van de Krol: “Openbaarmaking door de financiële toezichthouders”. De volledige lijst met publicaties is hier te vinden. Nummer 151 is overigens… Continue reading 150 JURIDISCHE PUBLICATIES
CHALLENGING THE VALIDITY OF A CONTRACT
Based on error, fraud or undue influence The validity of a contract can be challenged on various grounds, including error, fraud or undue influence. In the case to be discussed here a contract was entered into by an intermediary. Appellants in cassation (Van Eendenberg) were owners of the parcels on which a preferential right was… Continue reading CHALLENGING THE VALIDITY OF A CONTRACT
INDEPENDENT SUPERVISORY BOARD IN ST. MAARTEN
Should be mandatory for government-owned entities Under the laws of St. Maarten, the main task of a board of supervisory directors is to supervise the board of managing directors of a limited liability company (NV or BV). The St. Maarten Corporate Code provides for two different kinds of boards of supervisory directors, a “regular” board… Continue reading INDEPENDENT SUPERVISORY BOARD IN ST. MAARTEN
US LAW GOVERNED AGREEMENTS
Curaçao and St. Maarten Courts will accept the choice of laws One of the questions frequently asked is whether the Courts in Curaçao or St. Maarten, if an action is brought before them, will pay deference to a “choice of governing law” and/or venue provision in an agreement, in particular when the parties have chosen… Continue reading US LAW GOVERNED AGREEMENTS
CREDIT INSTITUTIONS IN THE BES ISLANDS
Strictly regulated With effect from 1 July 2012, the Financial Markets (BES Islands) Act [Wet financiële markten BES; “Wfm BES”] came into force, with the associated subordinate regulations. The Wfm BES applies to financial institutions in the BES islands (Bonaire, St. Eustatius and Saba). There are several categories of financial institutions, including credit institutions (banks).… Continue reading CREDIT INSTITUTIONS IN THE BES ISLANDS
LIFTING THE CORPORATE VEIL IN ARUBA
Only under exceptional circumstances In terms of “piercing the corporate veil” and shareholders’ liability, the laws of the Netherlands and Aruba are nearly identical. As far as a tort matter concerns the laws of Aruba, Dutch case-law and Dutch legal literature should be considered as well. In exceptional cases shareholders of an Aruba company can… Continue reading LIFTING THE CORPORATE VEIL IN ARUBA
REGULATORY LAWS IN THE BES ISLANDS
There are three regulators According to the Dutch Central Bank (“DCB”), financial institutions must be sound, reliable and stable to ensure confidence among businesses, consumers and others. DCB states on its website: “In addition to making certain their customers are properly informed about their products and services, these institutions also have a duty of care… Continue reading REGULATORY LAWS IN THE BES ISLANDS
ELECTRONIC MONEY INSTITUTIONS IN ARUBA
A license is required The European Central Bank defines e-money as follows (a non-legal definition): “E-money can be defined as any amount of monetary value represented by a claim issued on a prepaid basis, stored in an electronic medium (for example, a card or computer) and accepted as a means of payment by undertakings other… Continue reading ELECTRONIC MONEY INSTITUTIONS IN ARUBA
AMERICA MOVIL ABANDONS BID FOR KPN
Must KPN remain in Dutch hands? On NU.nl I read the report that the Mexican telecom company América Móvil, owned by the billionaire Carlos Slim, is abandoning a bid for the Dutch company KPN. The report reads: “The company refers in a statement to the Mexican stock exchange authorities to the barrier that the Stichting… Continue reading AMERICA MOVIL ABANDONS BID FOR KPN
AMERICA MOVIL ZIET AF VAN BOD OP KPN
Moet KPN in Nederlandse handen blijven? Op NU.nl las ik het bericht dat het Mexicaanse telecombedrijf América Móvil, het concern van de miljardair Carlos Slim, afziet van een bod op het Nederlandse bedrijf KPN. In het bericht staat: “Het bedrijf wijst in een melding aan de Mexicaanse beursautoriteiten op de beschermingswal die de Stichting Preferente… Continue reading AMERICA MOVIL ZIET AF VAN BOD OP KPN
CHINA OPENT CONSULAAT IN CURACAO
China en Curacao kiezen voor economische samenwerking De consul-generaal van de Volksrepubliek China, mevrouw Chen Qiman, en de Chinese consul de heer Huixun Zhang, hebben op 15 oktober 2013 een kennismakingsbezoek gebracht aan Karel Frielink, de honorair-consul van Duitsland in Curaçao, St. Maarten en de BES-eilanden. Mevrouw Chen Qiman is de eerste consul-generaal van de… Continue reading CHINA OPENT CONSULAAT IN CURACAO