HEDGE FUNDS FLOCK TO CURACAO
Citco once again most popular administrator for hedge funds
WILLEMSTAD – Citco is once again the most popular administrator for hedge funds, topping the annual Absolute Return ranking for the fifth consecutive year.
The international firm, which has led the survey every year since its inception, further increased its market share to 23.03%, approximately 1.2 percentage points more than last year.
Citco has kept its lead by investing aggressively in new products such as Treasury and collateral functions, and news standalone risk management software in the Americas and Europe, said global head of sales Jay Peller. Even among startups, the …
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MORATORIUM OF PAYMENTS IN THE DUTCH CARIBBEAN (I)
An opportunity to recover
Many companies face financial difficulties. Sometimes bankruptcy is the only option. The goal of the bankruptcy is the liquidation of the assets of the company and not to save the business, and this procedure is, therefore, not always the best procedure for realizing the full value of the company as a going concern.
Under the laws of the Netherlands Antilles, a temporary suspension or moratorium of payments (‘surséance van betaling’) is a general suspension of a debtor’s obligations ordered by the court. Only the debtor himself may request a moratorium, on the grounds that he is unable to …
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INVESTMENT COMPANY REGULATIONS IN THE DUTCH CARIBBEAN
Holding companies are not investing
An investment company (NV or BV) is a company that raises or obtains pecuniary means or other property to be used for collective investment with the objective of allowing the participants to benefit from the revenues of those investments.
The Netherlands Antilles National Ordinance on the Supervision of Investment Institutions and Administrators (‘Landsverordening Toezicht Beleggingsinstellingen en Administrateurs’) and the Central Bank’s policy guidelines based thereon do not make entirely clear what is regarded as an “investment”.
The explanatory memorandum to the Ordinance explains that certain activities do not tend to be considered as “investments”, such …
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