Tuesday, Apr 23rd

LATEST:
You are here: Editorial Editorial Editorial - Preventive effect

Best_of_2015_587x57_Results

Editorial - Preventive effect

Readers may have been a bit surprised about the recent report (see Saturday paper) by the Prosecutor's Office that it wants to make more use of the possibility to conduct civil inquiries at particularly government-owned companies in Curaçao and St. Maarten where mismanagement is suspected. The Civil Codes of both countries allow for such initiatives in the general interest.

Some have queried since then whether this is really a primary task for law enforcement agencies. After all, these companies have articles of incorporation and supervisory boards, while there are also corporate governance rules that include financial audits and reporting.

The feeling apparently is that despite all existing safeguards mismanagement continues to occur to the extent that the prosecution believes it's necessary to do something about it. As stated, the social cost can be substantial and this step is clearly intended to better defend society against these practices.

Mind you, permission for such inquiries has to be requested from the Court of Justice, which won't take this lightly. Before that the prosecution must confront the company with its objections calling for appropriate action and only when the latter remains forthcoming is the inquiry request submitted.

Moreover, the first one started in Curaçao in 2013 and is still ongoing, so it obviously regards a thorough and meticulous process. Nevertheless, local government-owned entities would do well to take heed, because there are indications the next inquiry actually will take place in St. Maarten sooner rather than later.

Which one of the companies it concerns is not known. Therefore, all should prepare and have their matters in order to avoid undesirable consequences for everyone involved, perhaps even the shareholder representative.

As pointed out, mismanagement does not have to go hand-in-hand with crime, but it may. If so, there will be legal repercussions for those responsible, of course, and if not, the judge may take corrective measures.

Authorities expect a structural execution of this competence will have a preventive effect. That alone might be worth it.

Image
St. Maarten midday Weather Forecast for Saturday
Saturday, 17 October 2015
DATE ISSUED: Saturday, October 17, 2015 @ 12:00 LST (16:00 UTC) VALID UNTIL: Sunday midday (12:00... Read more...
Image
SHTA poll: Businesses want anti-ship-jumping legislation
Saturday, 17 October 2015
Click here for SHTA graph pdf PHILIPSBURG--The St. Maarten Hospitality and Trade Association... Read more...
Image
Dominica’s tourism sector ready to welcome visitors after TS Erika
Friday, 16 October 2015
ROSEAU, Dominica--“Dominica is open for business and ready to welcome visitors to its shores.”... Read more...
Image
Reparations Committee: Withdraw Queens’ names from Suriname’s highest mountains
Thursday, 15 October 2015
PARAMARIBO--Suriname’s National Reparations Committee NRCS has filed a request with President... Read more...
Image
Ex-US House Speaker Hastert to plead guilty in hush-money case
Friday, 16 October 2015
CHICAGO--Former U.S. House Speaker Dennis Hastert is expected to plead guilty in a hush-money case... Read more...
Image
Hillary Clinton to 'look hard' at Julian Castro as possible VP pick
Friday, 16 October 2015
WASHINGTON--Democratic presidential contender Hillary Clinton won the backing of Housing and Urban... Read more...
Image
Half a million Yemen children face severe malnutrition
Friday, 16 October 2015
GENEVA--More than half a million children in Yemen face life-threatening malnutrition as a risk of... Read more...
Image
Modi to open 70-year-old files in challenge to Gandhi dynasty
Friday, 16 October 2015
NEW DELHI--Prime Minister Narendra Modi says he will seek to unravel one of India's most enduring... Read more...
Image
Cuba in cash crunch due to low commodity prices, Venezuela woes
Friday, 16 October 2015
HAVANA--Low commodity prices, a drought at home and Venezuela's economic crisis have created a cash... Read more...
Image
Apple's newest courtroom foe is patent-savvy university
Friday, 16 October 2015
NEW YORK--As a veteran of the global smart phone wars, Apple is used to courtroom battles with... Read more...
Image
Focus needs to be on fighting crime & helping unemployed
Friday, 16 October 2015
Dear Editor, With all of the political situation on the island, we can't lose focus on some of the... Read more...
Image
Had enough
Friday, 16 October 2015
Dear Queenie, My brother died years ago but his widow stayed close to our family. Eventually she... Read more...
Image
RBC St. Maarten Little League School Tournament
Saturday, 17 October 2015
Sister Marie Laurence defeated Leonald Conner in the RBC St. Maarten Little League School... Read more...
Image
Nadal trounces Wawrinka, Djokovic tames Tomic
Friday, 16 October 2015
CHINA-- Former world number one Rafa Nadal displayed more signs of a return to top form with a... Read more...
Image
Junk shop photo spurs quest to confirm Billy the Kid image
Friday, 16 October 2015
DENVER--For the $2 he spent to buy three old photographs, Randy Guijarro may have hit the mother... Read more...
Image
Few signs of improvement for NBA star Odom after collapse
Friday, 16 October 2015
LAS VEGAS--Pro basketball and reality TV star Lamar Odom spent a third day hospitalized on... Read more...
Image
Bruney cruises into retirement
Friday, 16 October 2015
~ After three decade in cruise industry ~   By Alita Singh   Frank Bruney has seen tiny... Read more...
Image
ALL HANDS ON DECK, WE MADE IT!
Friday, 16 October 2015
~ Fair Transport Sailing Vessel Nordlys is launched ~   St. Maarten has been graced by the... Read more...
Editorial - Anybody’s guess
Saturday, 17 October 2015
Governor Eugene Holiday has decided to seek legal clarity on the current constitutional impasse.... Read more...
Editorial - Time is up
Friday, 16 October 2015
With so much ongoing constitutional turmoil, the fact that more than 100 people attended the... Read more...
Image
Saturday Oct. 17, 2015
Friday, 16 October 2015
Image
Friday Oct. 16, 2015
Friday, 16 October 2015
Notices October 16
Friday, 16 October 2015
General Meeting St. Maarten Professional Softball Association (SMPSA) general meeting for the... Read more...
Notices October 15
Thursday, 15 October 2015
General Meeting S.M.P.S.A. general meeting for the softball season 2016 will be held at Sundial... Read more...