PLEDGING A REGISTERED CLAIM IN THE DUTCH CARIBBEAN
Disclosed vs undisclosed
A right of pledge is a limited right, intended to provide recourse against the property subject thereto for a claim for payment of a sum of money, with preference over other creditors. A registered claim (vordering op naam) is a personal right to payment not to order or bearer. The difference is of relevance with respect to establishing a right of pledge. A right of pledge on, for instance, bearer shares, is established by bringing the shares into the possession (under the control) of the pledgee (possessory pledge) or through a deed (non-possessory pledge).
Where it concerns a personal right, such right may be pledged either secretly (without notification to the person against whom the right may be exercised) or by way of a so-called disclosed right of pledge.
It should be noted that ‘registered’ does not refer to any public register or any kind of registration of the claim; it is another word for ‘personal’. In this respect ‘registered’ is only used as the opposite to ‘bearer’.
Karel Frielink
Attorney (Lawyer) / Partner
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