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International Law

Karel's Legal Blog

Attorney / Lawyer Karel Frielink discusses legal issues relating to Aruba and the Netherlands Antilles (Curacao, Bonaire, St. Maarten, Saba and St. Eustatia).
By Karel Frielink

Post Frequency: 1/day

Last Entry: November 02, 2020 at 12:06:26

G-20 CONFIRMS: NETHERLANDS ANTILLES NOT ON BLACKLIST

Posted on April 03, 2009
The Netherlands Antilles and Aruba do not appear on the OECD blacklist of international tax havens Although still on a so-called ’greylist’, which is not an official list, but rather a progress report, the Netherlands Antilles and Aruba both have committed to the internationally agreed tax standard...

FRANCHISE AGREEMENTS UNDER THE LAWS OF ARUBA (I)

Posted on March 31, 2009
What are called ?franchises? are not seldom mixed type agreements Franchise agreements are not defined in any Aruban statute and are not subject to any specific Aruban legislation. The franchise agreement is a sui generis agreement, subject to the general law of contracts...

GROUP RESTRUCTURING AND REFINANCING

Posted on March 25, 2009
Plan and act prudently: better to be safe than sorry Especially in these times of global economic and financial turmoil, a group (or part thereof) might want to consider restructuring and refinancing its operations or may be already in the process of doing so...

LIBERALIZATION IN THE DUTCH CARIBBEAN

Posted on March 21, 2009
Telecom first, airlines to follow suit The government of the Netherlands Antilles has been in favor of liberalizing the telecommunication market for may years now. Liberalization of the telecom market means opening it up to domestic and foreign competition, subject to certain regulatory principles...

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THE CREDIT CRUNCH, THE ECONOMIC RECESSION AND MAJOR FRAUDS SCHEMES

Posted on March 17, 2009
Lawyers are having a heyday Many countries, companies and private individuals are suffering severely from the credit crunch, the economic recession and the various fraud schemes (Madoff, Stanford, Enron, etc.). However, what causes misery to some represents opportunity to others, in this case, the lawyers...

PLC CROSS BORDER LAW FIRM RECOMMENDATIONS

Posted on March 16, 2009
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...

THE DISMISSAL OF A TRUSTEE IN BANKRUPTCY IN THE DUTCH CARIBBEAN

Posted on March 14, 2009
Dismissal not always at the sole discretion of the judge A Netherlands Antilles bankruptcy judge may at any time after having heard or after having properly summoned the trustee in bankruptcy, dismiss the trustee and replace him by one or more other trustees...

RIGHT OF SET-OFF UNDER DUTCH CARIBBEAN LAW

Posted on March 10, 2009
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 sum [...

STRUCTURING TRANSACTIONS IN THE DUTCH CARIBBEAN, THE SKY IS THE LIMIT

Posted on March 06, 2009
Example: Parallel debt structures under Dutch Caribbean law In a parallel debt structure, a company (the borrower) acknowledges a debt to an appointed agent by promising to pay the agent an amount equal to the sum of the borrower?s obligations under the (syndicated) loan agreement with the lenders...

BANKRUPTCY AND INTEREST CLAIMS IN THE DUTCH CARIBBEAN

Posted on March 02, 2009

PLEDGING A REGISTERED CLAIM IN THE DUTCH CARIBBEAN

Posted on February 27, 2009

DUTCH CARIBBEAN LAW REGARDING CORPORATE AUTHORITY

Posted on February 23, 2009
Trade Register should be checked Netherlands Antilles law provides that, subject to restrictions laid down by the Netherlands Antilles Corporate Code or a corporation?s articles of association, the board of directors of a corporation shall be competent to represent the corporation, e...

THE DUTCH CARIBBEAN PRIVATE FOUNDATION AND ITS SUPERVISORY DIRECTORS

Posted on February 20, 2009
Only natural persons may be appointed The articles of incorporation of a Private Foundation (PF) may provide, if so desired, that the authority of the board to make distributions is subject to the consent of the founder, a Supervisory Board or another body established within the PF e...

TEXAS BILLIONAIRE ALLEN STANFORD ACCUSED OF FRAUD

Posted on February 19, 2009
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...

THE FORMATION OF A PRIVATE FOUNDATION IN THE DUTCH CARIBBEAN

Posted on February 16, 2009
Formation requires a notarial deed A Private Foundation (PF) is formed by a notarial instrument executed by a Netherlands Antilles civil law notary and registered in the Register of Foundations at the Chamber of Commerce. The articles of incorporation of the PF includes the name of the PF and the word PF (or a translation thereof) as [...

THE OFFERING OF NOTES IN THE DUTCH CARIBBEAN

Posted on February 13, 2009
Only to licensed credit institutions Any Notes (including rights representing an interest in a Note in global form) that are offered as part of their initial distribution or by way of a re-offering in the Netherlands Antilles, shall, in order to comply with the Netherlands Antilles National Ordinance on the supervision of banking and credit institutions [...

THE STRUCTURE OF A DUTCH CARIBBEAN FUND

Posted on February 09, 2009
It is easy and inexpensive to set up a SPV (Special Purpose Vehicle) From a legal point of view, establishing a fund in Curaçao is very attractive under the corporate law in force since March 1, 2004, whereby a private limited liability company (besloten vennootschap) can be established very quickly and flexibly...

THE SHAREHOLDERS REGISTER OF A DUTCH CARIBBEAN LIMITED LIABILITY COMPANY

Posted on February 06, 2009
Shareholders may inspect the register Every shareholder of a Netherlands Antilles NV or BV may inspect the register of the company regarding the shares held by them. The articles of association of a particular company may confer the right for inspection on others...

TRANSFERS FOR NO CONSIDERATION UNDER THE LAWS OF THE DUTCH CARIBBEAN

Posted on January 30, 2009
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 be [...

GENERAL CONDITIONS UNDER THE LAWS OF THE DUTCH CARIBBEAN

Posted on January 26, 2009
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 use [...

STATUTORY MERGERS IN THE DUTCH CARIBBEAN

Posted on January 23, 2009
A notarial deed is required A statutory merger involves at least two legal entities. The law uses the terms acquiring and disappearing legal entity. The law specifies that only legal entities having the same legal form may merge, specifying that a BV (closed limited liability company) and a NV (public limited liability company) are considered to [...

CRIMINAL PROSECUTION GEERT WILDERS

Posted on January 22, 2009
Press release Amsterdam Court of Appeal Amsterdam Court of Appeal orders the criminal prosecution of the Member of Parliament of the Dutch Second Chamber Geert Wilders Amsterdam, 21 january 2009 - On 21 January 2009 the Court of Appeal in Amsterdam ordered the criminal prosecution of the member of parliament Geert Wilders for the incitement to hatred [...

THE DISMANTLING OF THE NETHERLANDS ANTILLES

Posted on January 22, 2009
Info Bulletin Dismantling available The country The Netherlands Antilles (?het Land de Nederlandse Antillen?) will cease to exist, presumably in 2010. Like Aruba, although slightly different, Curacao and St. Maarten will receive the status of autonomous country within the Kingdom of the Netherlands in accordance with referendums held on both islands...

PIERCING THE CORPORATE VEIL IN THE DUTCH CARIBBEAN

Posted on January 19, 2009
Ignoring the legal personality of a company A shareholder is not personally liable for acts performed in the name of the company and is not liable to contribute to losses of the company in excess of the amount which he must pay to the company as contribution for his shares...

THE LAWS OF TORT IN THE DUTCH CARIBBEAN

Posted on January 16, 2009
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 has suffered damage (schade); [...

PRE-TRIAL MOTIONS IN THE DUTCH CARIBBEAN

Posted on January 09, 2009
Differences with the United States Netherlands Antilles civil proceedings differ substantially from those in the United States. In the Dutch Caribbean there are, for instance, no juries. In principle, legal proceedings are basically conducted in writing...

INDEPENDENT SUPERVISORY BOARD IN THE DUTCH CARIBBEAN

Posted on January 07, 2009
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 supervisory directors [...

CURACAO TOURISM BOOMS

Posted on January 02, 2009
Article on Curacao by Ben Fox (Associated Press) Various newspapers, including USA Today and Miami Herald, published an article by Ben Fox. Here follows an excerpt: In a grim season for Caribbean tourism, an island just north of Venezuela stands out: Hotel rooms are scarce and discounts unavailable...

A HAPPY NEW YEAR TO ALL OF YOU

Posted on December 31, 2008
Bon aña nobo i tur kos bon! Gelukkige nuwejaar Godt nytår Onnellista uutta vuotta Lokkich neijier Felice anno nuovo Felix sit annus novus Godt nyttår Bliadhna mhath ur Feliz año Nuevo Yeni yiliniz kutlu olsun Karel Frielink

FINAL POSTING OF 2008

Posted on December 30, 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 crisis...

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