Published On: Tue, Jun 3rd, 2014

Process of division of properties and debts of the Netherlands Antilles in final stage

netherlands antillesWILLEMSTAD – The efforts to formulate a balanced division of the properties and debts of the Netherlands Antilles is entering its final stage. Mr. Faroe Metry, who is the chairman of the committee, division of properties and debts, believes that in two months they will be ready to present their findings.

“We are still waiting on the reports of the Government’s accountants Bureau (SOAB) and the KPMG for the final balance,” Metry said. As was announced before, the committee has worked on various provisional balances and had to make adjustments as the work was progressing.

“It was a long and arduous work and a very difficult process,” Metry said. Once the process is finished and the final reports are on the table, the committee will inform the Ministers of Finance of Curacao and Sint Maarten and the Dutch Minister of Kingdom Relations about their final council and to formula to divide the properties and debts of the Netherlands Antilles between Curacao, Sint Maarten and the BES Islands (Bonaire, Sint Eustatius and Saba).

The three Ministers have the final saying in the process. Faroe Metry indicated that they had a hard time explaining to the Netherlands that it was not correct of them to expropriate the Saba Bank Resources Inc. This company was initiated in the early 80’s of last century for the exploitation of oil in the Saba territorial waters (Saba Bank). Ant this company must be part of the division of properties. “Maybe it was an unnecessary effort because probably there are no natural resources in the plateau known as Saba Bank. But maybe with the new technology and some luck, the company will be able to find oil in the area, and if this is true, than all the islands, which were part of the Netherlands Antilles should participate in this wealth.” Metry said.

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