AMI TA VOTA SI
Ami ta vota SI:
Hopi SI, pa un futuro SIgur i prospero pa un i tur di nos Dushi Korsou!
Karel Frielink
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SI IS THE MESSAGE OF HOPE
Do you believe?
Do you believe in Curacao? SI
Do you believe Curacao still has a chance to improve? SI
Do you believe we should live in peace and harmony? SI
Do you believe the future is more important than the past? SI
Do you want the best for your children? SI
Do you believe in law, order and stability? SI
Do you believe in a partnership with the Netherlands? SI
Do you believe the Netherlands should show more compassion? SI
Do you believe the opposition is hurting Curacao? SI
Do you believe the referendum should be about issues not …
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SI? SI!
The 2009 Curacao referendum
According to Eric de Vries, “Many of the group of citizens on Curacao who predominantly speak English have requested information on the referendum of May 15, 2009, and in particular an explanation what the referendum will be about and why they should vote “YES” or “NO”.” He wrote an article (click here) in which he addresses those issues.
Further information can be found here (in Dutch), here (in English) and here (in Papiamento). Vota SI could not use the domain name www.vota-si.com, among other websites, because it was …
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G-20 CONFIRMS: NETHERLANDS ANTILLES NOT ON BLACKLIST
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. A number of European countries, including Belgium, Luxembourg and Switzerland also feature on this list due to their bank confidentiality arrangements. The OECD has placed four countries on its blacklist: Costa Rica, Malaysia, the Philippines and Uruguay. Source: OECD.
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FRANCHISE AGREEMENTS UNDER THE LAWS OF ARUBA (I)
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. Distribution agreements are not subject to any specific Aruban legislation either, and are, as with franchise agreements, also subject to the general law of contracts.
In accordance with the general law of contracts, parties are free, in principle, to agree on whatever they wish. However, certain restrictions are imposed by the general principle of Aruban law that …
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GROUP RESTRUCTURING AND REFINANCING
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. When considering or carrying out such plans, careful thought must be given to potential (legal) risks involved. For instance, in many jurisdictions specific statutory provisions exist regarding fraudulent preference actions, i.e. actions that prejudice (specific) creditors. Such provisions often also apply in full with respect to (individual companies belonging to) a group of companies, and should …
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LIBERALIZATION IN THE DUTCH CARIBBEAN
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.
Basically, liberalization means competition; competition means price levels determined by the market, not by a monopoly. This will benefit the consumers. In a free market telecom companies will, in principle, also be more innovative, more service-minded, offering a better and wider range of services, including service packages, for example, in an attempt to keep their customers …
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THE CREDIT CRUNCH, THE ECONOMIC RECESSION AND MAJOR FRAUDS SCHEMES
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.
The financial meltdown, for instance, has resulted in governments interfering in financial institutions, people being sacked, and litigation. Securities fraud results in litigation. It seems like a lawyers’ paradise, however let’s not forget that many lawyers are feeling the impact of the crisis as severely as everyone else.
It is however fair to say that …
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PLC CROSS BORDER LAW FIRM RECOMMENDATIONS
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.
Martijn Welten, who specialises in corporate law, mergers & aquisitions and corporate litigation, is (highly) recommended in the areas of dispute resolution and corporate/M&A.
Karel Frielink comes recommended in the area of high net-worth private clients. Karel is highly recommended in the areas of …
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THE DISMISSAL OF A TRUSTEE IN BANKRUPTCY IN THE DUTCH CARIBBEAN
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. This may be done at the request of the debtor, the trustee himself, another trustee, one or more creditors, the commission of creditors, or by the Judge on his own motion. There are no provisions in the law that stipulate, by reference, according to which consideration(s) such application is decided upon by the Judge.
In a particular …
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RIGHT OF SET-OFF UNDER DUTCH CARIBBEAN LAW
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 of money, then B is entitled to be absolved from payment of A’s claim to the extent of his cross-claim and is also entitled to use his cross-claim in pleadings as a defense in an action by A to enforce his claim.
Set-off functions …
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STRUCTURING TRANSACTIONS IN THE DUTCH CARIBBEAN, THE SKY IS THE LIMIT
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. Thus an independent, parallel debt is created between the borrower and the agent for which it is (further) agreed that this debt (not only becomes due and payable but also) will be considered paid and discharged at the same time and to the same extent as the underlying loans so that (of …
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