NON-POSSESSORY PLEDGE UNDER THE LAWS OF ARUBA
A non-possessory pledge requires a deed
Security rights are an important issue, especially in financing transactions. A company may, for example, guarantee the obligations of another company under a certain loan facility. There are several alternatives, one of which will be discussed here.
Under the laws of Aruba there are several kinds of pledges, in particular, the possessory and the non-possessory pledge. In the case of a possessory pledge, the physical control of the assets concerned will be transferred from the owner/borrower to the bank/lender.
In the case of a non-possessory pledge, regarding for example registered shares, the pledge is …
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LAW FIRM MARKETING AND THE INTERNET
Blog posts reinforce your expertise and reputation
I found this article on CNN’s website: ‘How can small companies make money from social media?’, and it made me start thinking about whether social media is a business for law firms.
I joined LinkedIn and SunZu (f.k.a. Ecademy) back in 2004. I was among the 1st million members of LinkedIn: member number 952,524 in fact!
I now have profiles on Xing, Facebook, Eleqt (f.k.a. Elysiants), Legal360.nl, Martindale-Hubbell Connected and several other sites too. Joining …
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FOREIGN CLAIMS SECURED BY ARUBAN SECURITY RIGHTS
The foreign law governed claim must be sufficiently identifiable
Many financing arrangements are of a cross-border nature. For instance, a loan agreement governed by English law with the loan secured by a right of pledge governed by the laws of Aruba. This raises all kinds of questions.
Any foreign right, for instance a claim, in which an Aruban pledge is created, must be sufficiently identifiable (‘met voldoende bepaaldheid omschreven’) within in the meaning of section 3:84(2) of the Civil Code of Aruba.
Also, if one wishes to create a right of pledge in a foreign right, such a right must …
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