What is wrong with this exactly? You read everywhere that law firms (lawyers, advocates, attorneys) have to change. Lawyers are too conservative. They hold on to the past and are anything but innovative. As the economic climate deteriorates the call for change becomes increasingly stronger. The system of “hourly rate billing” in particular has to… Continue reading LAWYERS AND BILLABLE HOURS
Tag: attorney
AVIATION – OPEN SKIES AGREEMENT WITH BRAZIL
Brazilian airlines are looking to use Curaçao as a hub to the United States of America According to various news publications Curaçao entered into a bilateral air services agreement, on an open skies basis, with Brazil. The bilateral air services agreement makes it possible for airlines of both countries to start air services between Curaçao… Continue reading AVIATION – OPEN SKIES AGREEMENT WITH BRAZIL
THE COURT OF LAST RESORT
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
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
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
THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (III)
Controlling minority? Such a situation (i.e. example 2) is possibly less desirable from the company’s perspective, certainly where the more essential decision-making is concerned. Although decisions should be taken on the basis of a discussion of content and it will not always be possible to predict how the meeting of shareholders will vote, the possibility… Continue reading THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (III)
THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (I)
Comparable with a constitution The articles of association of a Curaçao company (a public [NV] or private [BV] limited liability company) are somewhat comparable with a constitution or state regulations: the articles of association comprise – like the law, but also additionally to the law and, where permitted, unlike the law – the rules of… Continue reading THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (I)
VALIDLY REPRESENTING A CURACAO COMPANY
Extract and Articles are of importance Limited liability companies like the Curaçao NV or BV are legal entities. Whether or not a managing director has the authority to validly represent a company can be derived from the extract from the Trade Register of the Chamber of Commerce of Curaçao together with the articles of association… Continue reading VALIDLY REPRESENTING A CURACAO COMPANY
ANTI-MONEY LAUNDERING LAWS IN CURACAO
Money laundering is prohibited Title XXXI of the Penal Code of Curaçao basically prohibits any type of money laundering. The National Ordinance on the Reporting of Unusual Transactions (NORUT) obliges service providers acting in the course of a business or profession, to report unusual transactions. The National Ordinance on Identification of clients when Rendering Services (NOIS)… Continue reading ANTI-MONEY LAUNDERING LAWS IN CURACAO
IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)
2nd degree director as director of a foreign corporate director It appears from the 2011 ruling referred to by the Supreme Court that Section 2:11 of the Dutch Civil Code is applicable to the joint and several liability of a director of a Dutch legal entity being a director of another Dutch legal entity. The… Continue reading IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)