St. Maarten Airport’s cash shortfall is US $1.2M per month

February 25, 2019 8:49 AM
PHILIPSBURG - Princess Juliana International Airport’s (PJIA’s) financial crisis is deepening and the airport has no funds to pay its February salaries next week.
 
Recently appointed Chief Executive Officer (CEO) Brian Mingo told Members of Parliament (MPs) during the continuation of a public plenary session of parliament on airport financing on Friday that PJIA has a cash shortfall of US $1.2 million per month.
 
He said PJIA continues to be in default and is currently operating with a negative cash flow. He said there were no funds to pay salaries at the end of this month and the company is “still scrambling for funds to meet February salaries for next week.” He projected that the negative cash flow will take 24 months to restore.  
 
Friday’s session was the continuation of a meeting about the much-talked-about decision the Council of Ministers took to opt for a combination of a grant of $50 million via the Dutch government-financed World Bank-administered Trust Fund and a loan of the same amount from the European Investment Bank (EIB) to finance the reconstruction of PJIA.
 
The Daily Herald

Lawyer Roeland Zwanikken considers legal action against ABN AMRO Bank

May 08, 2021 6:14 PM
THE HAGUE--Attorney-at-law Roeland Zwanikken at St. Maarten’s BZSE law office is considering legal action against the intention of the Dutch ABN AMRO Bank to close the bank accounts of its clients in the Dutch Caribbean.

Fiscaal onderzoek bij notariskantoren vinden doorgang

May 07, 2021 8:04 AM
In het Antilliaans Dagblad: Fiscaal onderzoek bij notariskantoren
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Juridische miljoenenstrijd tussen BNP Paribas en Italiaanse prinses verhardt

February 22, 2021 4:51 PM
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Een Italiaanse prinses met zakelijke belangen in Nederland heeft het onderspit gedolven bij diverse rechtbanken in een langslepend conflict met zakenbank BNP Paribas.