Such covenants are null and void A non-competition clause, a.k.a. a covenant not to compete, is a stipulation between the employer and the employee whereby the latter is restricted in his right to work in a given way upon termination of the latter’s contract of employment. Typically, a non-competition clause will prohibit an employee from… Continue reading COVENANTS NOT TO COMPETE IN THE DUTCH CARIBBEAN
Tag: netherlands antilles
DECLARING DIVIDENDS IN THE DUTCH CARIBBEAN
Resolutions only marginally examined by the court Directly connected to the approval of annual accounts, the general meeting of the NV (or BV, as the case may be) or any other body designated in the articles of incorporation, shall resolve the distribution or reservation of profits according to aforementioned annual accounts and the payment of… Continue reading DECLARING DIVIDENDS IN THE DUTCH CARIBBEAN
PROVIDING INFORMATION TO THE DUTCH CARIBBEAN TAX INSPECTOR
Digital information is not sufficient In general every company is obliged to supply the Tax Inspector with data and information that is or can be significant for levying taxes from that company. Regarding the aforementioned all data carriers or their content have to be made available at the request (and discretion) of the Tax Inspector.… Continue reading PROVIDING INFORMATION TO THE DUTCH CARIBBEAN TAX INSPECTOR
CHURANDY MARTINA WINS SILVER ON 200M IN BEIJING, BUT…
was wrongly disqualified On 20 August 2008, Churandy Martina won the silver medal in the 200 metres at the Olympics behind Usain Bolt in 19.82 seconds, the first time he had run sub-20s. He was the first medal winner for the Netherlands Antilles after Jan Boersma won silver in sailing at the 1988 Summer Olympics in Seoul.… Continue reading CHURANDY MARTINA WINS SILVER ON 200M IN BEIJING, BUT…
DUTCH CARIBBEAN PRIVATE INTERNATIONAL LAW
The legal effects doctrine: an exception to the lex loci delicti rule Under Dutch Caribbean rules of private international law, a claim arising from an unlawful act is governed, in the absence of a choice of jurisdiction by the parties, by the law of the country were the unlawful act was committed (lex loci delicti).… Continue reading DUTCH CARIBBEAN PRIVATE INTERNATIONAL LAW
INADEQUATE CAPITALIZATION IN THE DUTCH CARIBBEAN
Liability for thin-capitalization? In terms of ‘piercing the corporate veil’, thin or inadequate capitalization usually means capitalization that is not in proportion to the nature of the risks the business of the corporation necessarily entails; in other words it is based on likely economic needs rather than legal requirements. Shareholders of a company in the… Continue reading INADEQUATE CAPITALIZATION IN THE DUTCH CARIBBEAN
PRE-EMPTION RIGHTS IN THE DUTCH CARIBBEAN
Prevent a shareholder from dilution According to article 2:106 of the Netherlands Antilles Civil Code shareholders have a pre-emption right on the issue of new shares, being the right to be offered any new issue in each class, pro rata to the number of shares of such class held by them. The pre-emption right is… Continue reading PRE-EMPTION RIGHTS IN THE DUTCH CARIBBEAN
DUTCH SAME-SEX COUPLES HAVE THE SAME RIGHTS AS OPPOSITE-MARRIED COUPLES IN THE DUTCH CARIBBEAN
Spigthoff represented plaintiff According to a recent court ruling in the Netherlands Antilles (Court of First Instance, 17 July 2008), a same-sex couple that was married in the Netherlands and subsequently moved to the Netherlands Antilles (Curacao), has the same rights under Netherlands Antilles law (or Aruban law as the case may be) as Netherlands Antilles… Continue reading DUTCH SAME-SEX COUPLES HAVE THE SAME RIGHTS AS OPPOSITE-MARRIED COUPLES IN THE DUTCH CARIBBEAN
THE FINANCIALS OF A DUTCH CARIBBEAN COMPANY
Management’s responsibility According to Netherlands Antilles law, annually, within eight months after the company’s financial year has ended, (unless this term has been extended by the general meeting) annual statements must be drawn up by the management board and submitted to the general meeting of shareholders. The annual statements, comprising the balance sheet, profit and loss account and… Continue reading THE FINANCIALS OF A DUTCH CARIBBEAN COMPANY
HEALTH INSTITUTIONS IN THE DUTCH CARIBBEAN
Quality of health care is regulated Secondary health care in the Netherlands Antilles is provided in hospitals. There are seven hospitals on Curaçao, with a total of 1,187 beds, 46% of them in the Sint Elizabeth Hospital (Sehos) and 16.9% in various specialized institutes for the disabled and drug addicts. The Netherlands Antilles National Ordinance… Continue reading HEALTH INSTITUTIONS IN THE DUTCH CARIBBEAN
MORATORIUM OF PAYMENTS IN THE DUTCH CARIBBEAN (II)
The debtor may make an offer of composition The nature of a Netherlands Antilles’ moratorium differs substantially from a moratorium under US law and does, in particular, not cause pending proceedings to be stayed. Generally, a moratorium in the Netherlands Antilles protects a debtor from claims existing at the time of the moratorium. It does not prevent litigating… Continue reading MORATORIUM OF PAYMENTS IN THE DUTCH CARIBBEAN (II)
SECURITY RIGHTS AND DUTCH CARIBBEAN INTERNATIONAL PRIVATE LAW
Foreign security rights may be valid and enforceable According to Netherlands Antilles law, the question as to whether or not a security right may be created in a certain receivable must be determined according to the law governing that receivable. Netherlands Antilles international private law determines that the law that governs the receivable is the law that governs… Continue reading SECURITY RIGHTS AND DUTCH CARIBBEAN INTERNATIONAL PRIVATE LAW