Legal Blog

Monday, February 08, 2010

Piercing the corporate veil in the Dutch Caribbean

Ignoring the legal personality of a company

A shareholder is not personally liable for acts performed in the name of the company and is not liable to contribute to losses of the company in excess of the amount which he must pay to the company as contribution for his shares. There is therefore a legal separation between the assets and liabilities of the company and those of the shareholder.

Read more Filed under: Corporate by Karel Frielink. (0) Comments

 

Monday, February 08, 2010

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 may want to consider restructuring and refinancing its operations or may be already in the process of doing so. When considering or carrying acting out such plans, careful thought must be given to potential (legal) risks involved. For instance, in many jurisdictions specific statutory provisions exist regarding with respect to 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 not be overlooked in (group) restructuring and refinancing operations.

Read more Filed under: Finance by Karel Frielink. (0) Comments