CRIMINAL LIABILITY OF MANAGING DIRECTORS UNDER NETHERLANDS ANTILLES LAW
You better behave!
There are numerous articles in the Penal Code of the Netherlands Antilles and various statutes that impose specific criminal sanctions on managing directors and supervisory directors. Punishable offenses include the following:
– international publication of untrue financial statements;
– involvement of a managing or supervisory director of the company in situations that are illegal or in conflict with the articles of incorporation, resulting in serious harm to the company;
– prior to or during bankruptcy proceedings, disguising profits or losses, or fraudulently disposing of assets; and
– prior to or during bankruptcy proceedings, giving preferential treatment to certain creditors in a way that is detrimental to other creditors.
Karel Frielink
Attorney (Lawyer) / Partner
