Conflicting interests in connection with consolidated business operations When multiple companies of the same group go bankrupt, it can be of major importance for a creditor of one of these companies to know how the winding up is developing of one or more of the other companies. Particularly when a consolidated bankruptcy is involved, the… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 7)
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CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 6)
Conflicting interests of different bankruptcy estates The management of different but associated bankruptcy estates can be entrusted to one and the same person who therefore is appointed several times as receiver. In this connection group relationships come to mind. It is true that in connection with different estates with one and the same person as… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 6)
CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 5)
Different types of interests A receiver cannot escape the weighing of interests. Such a weighing should be verifiable. The line of thought followed by the receiver should be clear. Particularly because, apart from his liability and remuneration, these being of a different order, he has no self-interest in the winding-up of the bankrupt estate, the… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 5)
CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 4)
The receiver and personal interests The duties of the receiver are to represent the interests of others. When his personal interests are affected he must observe extreme restraint and openness. If there is a conflict of interest or if a semblance of it has been created, he ought to withdraw as the receiver. The receiver… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 4)
CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 3)
Conflicting interests of the receiver/advocate and his law firm A receiver must be able to take decisions freely and be able to weigh the interests involved in a bankruptcy against each other in an objective and unbiased manner. Before accepting an appointment as receiver, the respective person must make certain that he is free to… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 3)
CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 2)
The liability of the receiver The special characteristics of the duty of a receiver bring with them that his liability, if any, must be assessed against a standard of due care which has been tuned to this. This standard boils down to the fact that a receiver ought to act as can reasonably be required… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 2)
FATUM HOLDING ACQUIRES ROYAL & SUN ALLIANCE (ANTILLES)
Press release Fatum Holding N.V. (Fatum), today announced the acquisition by Fatum of 100% of the issued share capital of Royal & Sun Alliance Insurance (Antilles) N.V. from the RSA Group and Maduro & Curiel’s Bank. The financial terms of the transaction are not being disclosed at this time. The successful completion of this transaction… Continue reading FATUM HOLDING ACQUIRES ROYAL & SUN ALLIANCE (ANTILLES)
CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 1)
The receiver is sometimes described as an octopus The receiver (trustee in bankruptcy) as an octopus: this means that in connection with each appointment he is in a way thrown in at the deep end because he has to make himself familiar with the relevant issues in a very short period and because of the… Continue reading CONFLICTING INTERESTS IN CURACAO INSOLVENCY LAW (part 1)
NEW BOARD CURACAO BAR ASSOCIATION
Annual meeting held on 11 December 2012 In the Annual Meeting of the Curacao Bar Association on 11 December a new Board has been elected. The Board of the Curacao Bar Association now consists of: Caroline Fiévez – President Everett Wilsoe – Vice-President Emile Huizing – Secretary Reagan Celestijn – Treasurer Paul van de Laarschot… Continue reading NEW BOARD CURACAO BAR ASSOCIATION
SYMPOSIUM ON 35 YEARS OF THE CURACAO BAR ASSOCIATION (16 NOVEMBER 2012)
Presentation by Karel Frielink – President (part 2) Civil Litigation Law should be better So now I will deal with the subject of this symposium. I begin straight away with a provoking statement: Our Civil Litigation Law should be better. This goes further than it ‘could’ be better. However, we shouldn’t only think about the… Continue reading SYMPOSIUM ON 35 YEARS OF THE CURACAO BAR ASSOCIATION (16 NOVEMBER 2012)
SYMPOSIUM ON 35 YEARS OF THE CURACAO BAR ASSOCIATION (16 NOVEMBER 2012)
Presentation by Karel Frielink – President (part 1) Ladies and gentlemen! Today the symposium on the “Seven years of the new Code of Civil Procedure” is taking place in honor of the 35th anniversary of the Curacao Bar Association. The 35-year existence of the Bar is an occasion for celebration which is quite rightly paid… Continue reading SYMPOSIUM ON 35 YEARS OF THE CURACAO BAR ASSOCIATION (16 NOVEMBER 2012)
LEGAL ACTION AGAINST A CURACAO TRUSTEE
Who can bring an action? If the trust assets have been prejudiced, the action can be brought by any co-trustee. Unless provided for to the contrary in the trust deed the action can also be brought by a protector or beneficiary on the understanding that the compensation is paid as soon as possible to a… Continue reading LEGAL ACTION AGAINST A CURACAO TRUSTEE