Netherlands Antilles According to PLC Cross Border (Which lawyer?), Spigthoff Attorneys & Tax Advisers is one of two firms dominating the Netherlands Antilles market for international work, both on- and offshore. Spigthoff ranks high in corporate / M&A and dispute resolution. Martijn Welten, who specialises in corporate law, mergers & aquisitions and corporate litigation, is (highly)… Continue reading PLC CROSS BORDER LAW FIRM RECOMMENDATIONS
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RIGHT OF SET-OFF UNDER DUTCH CARIBBEAN LAW
One of the most modern regimes in the world The legal concept of set-off may be defined as setting cross-claims off against each other to produce a single balance. For instance, if A were to have a claim against B for a sum of money, and B would have a cross-claim against A for a… Continue reading RIGHT OF SET-OFF UNDER DUTCH CARIBBEAN LAW
TEXAS BILLIONAIRE ALLEN STANFORD ACCUSED OF FRAUD
Stanford fraud charges tricker panic Fraud charges laid against Allen Stanford sparked panic across the Caribbean. Stanford and his companies, among them Stanford International Bank Ltd. (a private offshore investment bank in Antigua), Stanford Group Co. and Stanford Capital Management LLC are subject to a fraud inquiry. According to The Daily Herald “The ripple effects of the “massive… Continue reading TEXAS BILLIONAIRE ALLEN STANFORD ACCUSED OF FRAUD
TRANSFERS FOR NO CONSIDERATION UNDER THE LAWS OF THE DUTCH CARIBBEAN
The law protects creditors In general the law in the Netherlands Antilles does not prohibit transfers for no consideration. It should however be pointed out that under Netherlands Antilles law, statutory provisions exist which ensure that transactions whose only reason is to disadvantage creditors or make it impossible for them to seek recourse, may not… Continue reading TRANSFERS FOR NO CONSIDERATION UNDER THE LAWS OF THE DUTCH CARIBBEAN
GENERAL CONDITIONS UNDER THE LAWS OF THE DUTCH CARIBBEAN
General conditions may be nullified Since 1 January 2001 the Civil Code (CC) of Aruba and the Netherlands Antilles contains a section on general terms and conditions. By including this section in the CC the legislator tried to strengthen judicial supervision of the terms of general conditions in order to protect contracting parties against the… Continue reading GENERAL CONDITIONS UNDER THE LAWS OF THE DUTCH CARIBBEAN
THE LAWS OF TORT IN THE DUTCH CARIBBEAN
Unlawful acts and damage Section 6:162 paragraph 1 Netherlands Antilles Civil Code (NACC) stipulates four conditions for someone’s obligation to compensate damage based on an unlawful act (tort): A person has committed an unlawful act (onrechtmatige daad) against another person (the victim); and the act can be attributed (toegerekend) to that person; and the victim… Continue reading THE LAWS OF TORT IN THE DUTCH CARIBBEAN
INDEPENDENT SUPERVISORY BOARD IN THE DUTCH CARIBBEAN
Should be mandatory for government-owned entities Under the laws of the Netherlands Antilles, 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 Corporate Code provides for two different kinds of boards of supervisory directors, a “regular” board of… Continue reading INDEPENDENT SUPERVISORY BOARD IN THE DUTCH CARIBBEAN
FINAL POSTING OF 2008
This will be my final posting for 2008. 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 economic turmoil. The year 2009 is about to begin and it won’t be an easy year. Many will suffer from the… Continue reading FINAL POSTING OF 2008
THREE QUESTIONS ABOUT DUTCH CARIBBEAN CIVIL PROCEEDINGS
FAQ Question 1 Are there any particular issues that concern foreign plaintiffs in the Netherlands Antilles? If proceedings on the merits are initiated by a non-resident plaintiff, the defendant may ask the court to order that the plaintiff provide security for damages, costs and interest which it might be liable to pay as a result… Continue reading THREE QUESTIONS ABOUT DUTCH CARIBBEAN CIVIL PROCEEDINGS
CAN A FOREIGN COMPANY BUY SHARES IN A DUTCH CARIBBEAN COMPANY?
Generally speaking: yes Under Netherlands Antilles law, no specific requirements exist regarding the purchase of shares in a Netherlands Antilles offshore company by a foreign company. The Netherlands Antilles do not have any anti-trust regulations. In the Netherlands Antilles there are no statutory requirements preventing the sale of one or all the shares issued and… Continue reading CAN A FOREIGN COMPANY BUY SHARES IN A DUTCH CARIBBEAN COMPANY?
A JOINDER BETWEEN PARTIES IN THE DUTCH CARIBBEAN
An interest must be proved When two parties are involved in legal proceedings a third party may request permission to join the proceedings thereby to joining with one party in raising defense against the other (‘voeging’). Alternatively, a third party may request permission to intervene (‘tussenkomen‘) in pending proceedings, in which case neither party is… Continue reading A JOINDER BETWEEN PARTIES IN THE DUTCH CARIBBEAN
PLEDGING FUTURE RECEIVABLES IN THE DUTCH CARIBBEAN
Bankruptcy pledgor will prevent valid pledge Under the laws of the Netherlands Antilles, a right of pledge may be established on future receivables, however, the right of pledge on a future receivable will only be perfected the moment such a receivable comes into existence, provided that, at such a time, the pledgor is authorized to… Continue reading PLEDGING FUTURE RECEIVABLES IN THE DUTCH CARIBBEAN