Most stuff still works I am happy and still enjoy life. I will keep on working to make Curaçao a better place to live for all human beings irrespective of their color, culture, race, nationality, language, religion, belief, age or sexual orientation. I will spend my birthday with my wife, daughters and parents… and not… Continue reading I TURNED 50 TODAY!
Tag: Curazao
LEZING NIEUW VENNOOTSCHAPSRECHT SINT MAARTEN
Nieuw Boek 2 BW en nieuw personenvennootschapsrecht Op verzoek van de Orde van Advocaten te Sint Maarten heb ik op 21 mei 2014 in de Flamboyantzaal van het Courthouse te Sint Maarten een lezing gegeven voor de rechterlijke macht en de advocatuur. De lezing ging over enkele van de wetswijzigingen die in Sint Maarten op… Continue reading LEZING NIEUW VENNOOTSCHAPSRECHT SINT MAARTEN
DE ENE ADVOCAAT IS DE ANDERE NIET
En het ene kantoor is het andere niet… Je moet werken vanuit je eigen identiteit en overtuiging. Dat kunnen we vandaag lezen in een interview met Mark van Eck van Business Openers in Advocatie.nl. Een kantoor dat werkt vanuit wat dat kantoor uniek maakt, waarin het zich dus onderscheidt van andere kantoren, is meer succesvol.… Continue reading DE ENE ADVOCAAT IS DE ANDERE NIET
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
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
THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (II)
Articles determine the nature of the company A company’s articles of association determine the nature of the company (take for example the description of the purpose), regulate the internal competences (e.g. dismissal and appointment), limit the powers (e.g. decisions requiring approval), determine the internal responsibilities (e.g. drawing up the annual report and accounts), regulate the… Continue reading THE ARTICLES OF ASSOCIATION OF A CURAÇAO COMPANY (II)
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
CURACAO CONGRATULATES WLADIMIR “COCO” BALENTIEN WITH HIS 56TH AND 57TH HOME RUN
New home run king from Curaçao crowned in Japan Tokyo Yakult Swallows player Wladimir “Coco” Balentien from the island of Curaçao, a former major leaguer hit his 56th and 57th home runs on Sunday September 15, 2013, breaking the Japanese single-season record set by Sadaharu Oh 49 years ago. “Former big-league outfielder Wladimir Balentien, Japan’s… Continue reading CURACAO CONGRATULATES WLADIMIR “COCO” BALENTIEN WITH HIS 56TH AND 57TH HOME RUN
INSOLVENCY AND LIABILITY
Not (or late) filing for bankruptcy In Curaçao, there is no statutory obligation for managing directors of a company to file for the bankruptcy of the corporation. Therefore, managing directors are not responsible to the creditors for damages sustained by them as a result of any ‘late’ filing for bankruptcy. There is no such obligation… Continue reading INSOLVENCY AND LIABILITY
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)
SERVICE OF PROCESS
A bailiff must be engaged What is the procedure for the service of foreign proceedings under the procedural laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba for a company having its registered address in one of those territories, for instance Curaçao? Under Curaçao procedural law, the service of proceedings on a Curaçao… Continue reading SERVICE OF PROCESS