The foreign law governed claim must be sufficiently identifiable Many financing arrangements are of a cross-border nature. For instance, a loan agreement governed by English law with the loan secured by a right of pledge governed by the laws of Aruba. This raises all kinds of questions. Any foreign right, for instance a claim, in… Continue reading FOREIGN CLAIMS SECURED BY ARUBAN SECURITY RIGHTS
Tag: aruba
DRAG-ALONG RIGHTS UNDER THE LAWS OF ARUBA
Drag-along rights may be validly created On January 1, 2009 the new Aruba Ordinance on companies with limited liability (vennootschap met beperkte aansprakelijkheid; VBA) became effective. A drag-along right is a right that enables a majority shareholder to force a minority shareholder to join in the sale of his shares in a company (VBA). Generally,… Continue reading DRAG-ALONG RIGHTS UNDER THE LAWS OF ARUBA
NETHERLANDS CARIBBEAN BANKS AND REGULATORY ISSUES
A bank has less freedom than an ordinary legal entity What would be the requirements, from a regulatory point of view, if a Netherlands Antilles bank wished to sell its entire business or a substantial part thereof? Would it require approval from the Netherlands Antilles Central Bank (de ‘Bank van de Nederlandse Antillen’)? Generally, if the… Continue reading NETHERLANDS CARIBBEAN BANKS AND REGULATORY ISSUES
THE DUTCH CARIBBEAN AND ITS CIVIL LAW SYSTEM
Abstract rules are the starting point The Netherlands Antilles are an autonomous part of the Kingdom of the Netherlands. The Kingdom of the Netherlands is composed of three parts: the Kingdom in Europe (popularly known as Holland, north of Belgium and west of Germany), the Netherlands Antilles (in the Caribbean Sea, north of Venezuela), and Aruba… Continue reading THE DUTCH CARIBBEAN AND ITS CIVIL LAW SYSTEM
CARIBBEAN KIDS NEWS
The Dutch Antillean ‘Jeugdjournaal’ The Curacao-based Foundation Youth Into Media (Stichting Youth Into Media) is responsible for the sustainable development of a youth news program – Caribbean Kids News – on television and the internet for the Netherlands Antilles and Aruba. The first show of ‘Caribbean Kids News’ was on September 14, 2009 on TeleCuracao. Caribbean… Continue reading CARIBBEAN KIDS NEWS
BREACH OF CONTRACT IN THE DUTCH ANTILLES (V)
Restrictions on termination With regards to damages, the aim thereof is generally to restore the creditor to the position he would have been in had the contract been fulfilled. In case of breach of contract, the damages will usually be assessed by considering the situation the creditor would be in if restored to the position… Continue reading BREACH OF CONTRACT IN THE DUTCH ANTILLES (V)
BREACH OF CONTRACT IN THE DUTCH ANTILLES (IV)
Non-performance as a response to non-performance Whenever a party to a contract is faced with non–performance by the other party, the party’s first reaction might well be to suspend its part of the contract. In the legal sense of the word, suspending or withholding performance may be described as both a defense and a self… Continue reading BREACH OF CONTRACT IN THE DUTCH ANTILLES (IV)
BREACH OF CONTRACT IN THE DUTCH ANTILLES (III)
Different cases of breach of contract Any question of breach starts with an inquiry into the type of obligation at hand. It is necessary to know more about the type of obligation at hand in order to determine whether a party has failed to perform that obligation. When determining whether a party has failed to… Continue reading BREACH OF CONTRACT IN THE DUTCH ANTILLES (III)
BREACH OF CONTRACT IN THE DUTCH ANTILLES (II)
Entitlement to specific performance Under the Netherlands Antilles Civil Code the demand for specific performance is not a remedy for breach of contract in a strictly legal technical sense. In this system the entitlement to specific performance is a consequence of the duty to perform a (contractual) obligation. The contract itself, and not the breach… Continue reading BREACH OF CONTRACT IN THE DUTCH ANTILLES (II)
BREACH OF CONTRACT IN THE DUTCH ANTILLES (I)
Failure to properly perform Under the Netherlands Antilles Civil Code (CC) breach of contract is defined as a failure to properly perform, perform on time, or to perform at all, which failure is attributable to one of the parties If a debtor breaches his obligations there are various courses of action available to the creditor.… Continue reading BREACH OF CONTRACT IN THE DUTCH ANTILLES (I)
LEGAL REBELS ARE REMAKING THE LEGAL PROFESSION
Dozens of lawyers are remaking their corners of the profession According to the American Bar Association (ABA), “the legal profession is not just struggling through a recession but undergoing a structural break with the past. There is a growing consensus that the profession that emerges from this downturn will be different in fundamental ways from… Continue reading LEGAL REBELS ARE REMAKING THE LEGAL PROFESSION
LIFTING OF AN ATTACHMENT UNDER THE LAWS OF THE DUTCH CARIBBEAN (II)
Defendant has to show that the claim is invalid Article 705, Paragraph 2 of the Netherlands Antilles Code of Civil Procedure states that the lifting of an attachment may be ordered if it appears summarily that the claim is invalid. According to existing case law of the Dutch Supreme Court (see for instance Supreme Court… Continue reading LIFTING OF AN ATTACHMENT UNDER THE LAWS OF THE DUTCH CARIBBEAN (II)