New legislation It has become market practice in Curacao, and also in the Netherlands, to create a separate (parallel) obligation, owed by the borrower (or guarantor) to the security agent in its own name, on the terms and in an amount equal to the original (principal) obligations owing by the borrower (or guarantor) to the… Continue reading PARALLEL DEBT IN CURACAO
Tag: attorneys
FINAL POSTING OF 2011
What a year! This will be my final posting for 2011. What a year. It feels as if the whole world has changed more rapidly than ever before and not only as a result of the Arabic Spring and the economic turmoil. The year 2012 is about to begin and it won’t be an easy… Continue reading FINAL POSTING OF 2011
LEGAL MERGERS IN CURACAO
The Curacao Civil Code provides for a simplified merger procedure The acquisition of a business enterprise may take place through the purchase of shares (take-over), the purchase of assets and liabilities or a legal / statutory merger. The Curacao Legal Code on corporate and other legal persons contains detailed provisions for mergers of companies limited… Continue reading LEGAL MERGERS IN CURACAO
UNITED NATIONS BASIC PRINCIPLES ON THE ROLE OF LAWYERS
The Basic Principles are considered to be a “soft-law” instrument The Basic Priciples on the role of lawyers were adopted by the Eighth United Nations Congress on the Prevention of Crime and the Treatment of Offenders, Havana, Cuba, 27 August to 7 September 1990. According to the preambule professional associations of lawyers have a vital… Continue reading UNITED NATIONS BASIC PRINCIPLES ON THE ROLE OF LAWYERS
CREDIT INSTITUTIONS IN CURACAO AND ST. MAARTEN
A license is required The National Ordinance on the supervision of banking and credit institutions 1994 (Landsverordening toezicht bank- en kredietwezen, the “NOSB”) of both Curacao and St. Maarten prohibits any one (other than a licensed Credit Institution) from – directly or indirectly – soliciting funds from the public or extending credit to the public… Continue reading CREDIT INSTITUTIONS IN CURACAO AND ST. MAARTEN
INVESTMENT INSTITUTIONS IN CURACAO AND ST. MAARTEN
Raising money without a license is prohibited The National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (Landsverordening toezicht beleggingsinstellingen en administrateurs, a.k.a. “NOSIIA”) of both Curacao and St. Maarten prohibits raising, or obtaining, pecuniary means or other property for the purpose of participating in an investment institution that has not been granted a… Continue reading INVESTMENT INSTITUTIONS IN CURACAO AND ST. MAARTEN
TERMINATION OF EMPLOYMENT AGREEMENT AND REDUNDANCY
Termination by mutual consent is preferable In general, Curacao labor law provides for the following ways to terminate an employment agreement: (i) termination by giving notice, (ii) dissolution by the Courts and (iii) termination by mutual consent. Prior to giving notice, an employer must obtain a permit from the Director of the Directorate of Labor… Continue reading TERMINATION OF EMPLOYMENT AGREEMENT AND REDUNDANCY
THE RHYTHM AND BLUES OF CURACAO CONTRACT LAW
Principle of fairness and reasonableness When considered in the perspective of the laws of Curacao, the reliance on or the enforcement of contractual terms and conditions contained in any agreement, may under certain circumstances be contrary to the overriding principle of ‘fairness and reasonableness’ (redelijkheid en billijkheid) which governs the relationship between the parties to… Continue reading THE RHYTHM AND BLUES OF CURACAO CONTRACT LAW
TWEE CURACAOSE MEESTERS
Varia Juridica Dit boekje wordt uitgegegeven door Wolf Legal Publishers. Op de website van de uitgever staat: Twee Curacaose Meesters bevat beschouwingen over uiteenlopende onderwerpen van het recht. Tot de Varia Juridica die aan bod komen behoren de geschiedenis en enkele aspecten van de advocatuur, de advocaat als financiële dienstverlener, corporate governance, Blackberryitis en deugdzaam… Continue reading TWEE CURACAOSE MEESTERS
TRUST SERVICE PROVIDERS IN CURACAO
TSPs are supervised by the Central Bank Many international group structures include one or more Curacao legal entities or partnerships. The main reasons for this are the internationally competitive conditions for business development in the area of corporate law and the tax system in Curacao, as well as the well-developed professional financial services industry. Trust… Continue reading TRUST SERVICE PROVIDERS IN CURACAO
THE BACHELOR CURACAO
The first rose The first episode of the Dutch version of the TV-program The Bachelor on Curacao aired on 11 May 2011 (click here). And after watching the first episode of this show I can admit: Curacao still is the Pearl of the Caribbean. Karel Frielink (12 May 2011) .
THE UTOPIAN LAWYER
Dare to dream! A high degree of civilisation must be expected from the ideal advocate (attorney; lawyer) as well as a high degree of learning and expertise. A practical attitude, language skill and rhetorical ability form part of the standard baggage of the utopian advocate. He is not only feared for his razor-sharp analyses, for… Continue reading THE UTOPIAN LAWYER