Antilles sign papers on assets, liabilities division

September 13, 2010 12:30 PM

THE HAGUE--The Netherlands Antilles and the Netherlands on Wednesday signed three mutual arrangements relating to the division of assets and liabilities of the country Netherlands Antilles.

Two agreements were about Social Insurance Bank SVB and AVBZ health care fund.

The mutual agreement for SVB arranges the division of assets of this Antillean fund and the funds SVB manages. The mutual agreement for AVBZ fund arranges the division of assets of that fund and the apportionment of AVBZ clients of the Netherlands Antilles. The agreements are a result of the pending dismantling of the country Netherlands Antilles on October 10, 2010.

Antillean Prime Minister Emily de Jongh-Elhage also signed a mutual agreement regarding the division, among countries Curaçao and St. Maarten and the Netherlands, of the economic value of the rights and responsibilities that will be transferred from the Netherlands Antilles to Curaçao, St. Maarten, or the Netherlands.

The arrangement safeguards that the allotment of assets and liabilities, based on the Kingdom Decree legal succession civil rights and obligations of the Netherlands Antilles, correspond with the aimed division of the total estate as indicated in the agreed division keys.

De Jongh-Elhage signed the documents in The Hague, in the presence of Director of the federal Ministry of Finance Jose Jardim, and Jan Brandsma of the Dutch Ministry of Home Affairs and Kingdom Relations BZK.

The Antillean and Dutch delegations this week negotiated on the division of assets and liabilities of the Netherlands Antilles. The Netherlands is involved in these negotiations because Bonaire, St. Eustatius, and Saba will become part of the Netherlands as "public entities."

11 September, 2010