Published On: Sat, Jan 26th, 2013

Also hold parliamentarians and senior officials liable

WILLEMSTAD – The VBC (Association Business Community Curaçao) is pleased with the Parliament’s decision to hold administrators liable for mismanagement, squandering of public funds and violating the law. The VBC thinks it would be a good idea to make a similar regulation for parliamentarians and senior officials as well, according to a press report. The Parliament recently adopted a motion requesting the Advisory Council to check any existing possibilities, or create such, to hold administrators severally liable for aforementioned matters. “The VBC is convinced such regulation will emphasize the importance of good and honest corporate governance. This is also a positive signal for the living and investment climate because it would increase the confidence in Curaçao.”

The VBC remarks that a plea for this measure was made several years ago, also by the VBC. “In 1999, the then government had dared to draw up a similar proposal. Apparently, this initiative was not discussed due to political disinclination, and unfortunately, it disappeared, which is regrettable. If this proposal had been implemented Curaçao would’ve have been spared the unbelievable practices of the past years and in all probability the country’s financial and social-economic situation would’ve been better now. Hopefully the swift implementation of this measure will somewhat straighten the current distorted situation whereby administrators active in the private sector are held severally liable for their conduct, while this is not the case in the public sector.”

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