Legal Blog

Friday, May 31, 2013

The incorporation of a Dutch Caribbean limited liability company

The act on corporate law (Book 2 Civil Code of each of Bonaire, Curaçao and St. Maarten) governs the NV (‘public limited liability company’) and BV (‘private limited liability company’). These companies can be used for group finance or holding activities, (international) joint-ventures, funds, structured finance and “plain-vanilla” (local) activities.

Read more Filed under: Corporate by Karel Frielink.

 

Tuesday, May 21, 2013

The Curacao Trust

On 1 January 2012, new legislation entered into force according to which it is now possible to set up a trust (Curacao Trust) similar to the trust in Anglo-Saxon common law jurisdictions. The introduction of the Curacao Trust serves as an important instrument which could be used within financial transactions in the Caribbean as a significant part of these transactions are initiated from common law jurisdictions.

Read more Filed under: Finance by Maike Bergervoet.

 

Thursday, May 16, 2013

Litigation is a skilled profession (part 8)

Finally, note that rather simple examples have been taken here. However, many suits are complicated with regard to their subject matter. In this connection disputes about complicated take-over issues, disputes between investors and an investment fund, disputes with a contractor or architect about a building or disputes about intellectual property come to mind. All these types of dispute require from advocates much more knowledge of and experience with litigation. It is not that each advocate must be an expert in all those areas but he should at least have experts in his team.

Read more Filed under: Dispute Resolution by Karel Frielink.

 

Monday, May 13, 2013

Litigation is a skilled profession (part 7)

Apart from seizures it is also possible to consider an application for interim injunctive relief. The Judge for Interim Relief can render so-called provisional relief, for instance order a building freeze or order the counterparty to pay an advance on the compensation. Such a provision is called provisional because it is a measure in the interests of maintaining order to which the court dealing with the principal case is not bound. So it may well be the case that the provisional judgment of the Judge for Interim Relief differs fundamentally from the judgment of the court dealing with the merits of the case. Therefore there can be risks involved in the enforcement of an interim injunction order.

Read more Filed under: Dispute Resolution by Karel Frielink.

 

Thursday, May 09, 2013

Litigation is a skilled profession (part 6)

Sometimes cases which are strongly interrelated to each other are brought before different courts. For instance you instigate proceedings with the court in Curacao and your counterparty instigates proceedings at the same time against you before the court in Aruba or in Sint Maarten. If the merits of the case involve the same dispute it would hardly be efficient if litigation would take place before two different courts. In that case there would also be a risk that contradictory judgments would be delivered. The Code of Civil Procedure provides for an arrangement with regard to referral of a case from the one court to the other.

Read more Filed under: Dispute Resolution by Karel Frielink.

 

Wednesday, May 08, 2013

Europe Meets the Americas

Aruba Business Conference 2013. From May 5th till May 8th 2013 the trade mission “Europe meets the Americas” was held on Aruba. The conference offered the unique opportunity to connect face-to-face with potential partners from Latin America, the Caribbean region, Europe all present in one place. The three-day program provided valuable information on both the opportunities as well as cultural practices within the different continents and regions, presented by prominent international speakers. Spigt Dutch Caribbean was one of the sponsors of this conference.

Read more Filed under: Commercial by Karel Frielink.

 

Monday, May 06, 2013

Litigation is a skilled profession (part 5)

It can of course happen that it is not a plaintiff but the defendant or a third party who has the documents by which the plaintiff can prove the existence and extent of his claim. There is a separate procedure by which such documents can be demanded. This procedure, better known as the duty to submit exhibits of Section 843a of the Code of Civil Procedure requires several conditions which must be satisfied before the court can allow that claim.

Read more Filed under: Dispute Resolution by Karel Frielink.

 

Thursday, May 02, 2013

Litigation is a skilled profession (part 4)

As the defending party you have to put up a defense (Statement of Defense) and in this regard this statement should not only be clear and complete but you should also know for instance what formal defenses you should advance. With regard to the latter for instance the plea of limitation of action comes to mind. In many cases the period of limitation of action is five years but sometimes it is a much shorter period. The short period of limitation of six months applies to the annulment of a resolution of a legal entity registered in Curacao. 

Read more Filed under: Dispute Resolution by Karel Frielink.