Curacao refuses loan and Ennia Leven will cease to exist

PHILIPSBURG — The Dutch loan of €600 million (1.2 billion guilders or $636 million) to Curacao and St. Maarten to save the life insurance branch of insurance company ENNIA is off the table. Curacao’s Prime Minister Gilmar Pisas stated that his government in cooperation with the government of St. Maarten will make a serious effort to guarantee More...

by The Publisher | Published 5 months ago
By The Publisher On Friday, September 29th, 2023

Ansary’s wife Shahla bought $14 million penthouse in Palm Beach

PHILIPSBURG — While Ennia’s major shareholder Hushang Ansary is entangled in lawsuits that could force him to repay millions of dollars to the insurance company, his wife Shahla does not seem to be short More...

By The Publisher On Wednesday, September 27th, 2023

Minister Irion: Solution for Ennia becomes unattainable if not all parties agree

PHILIPSBURG — Refinancing of the corona liquidity loans hinges on an agreement about a solution for embattled insurance company Ennia. The deadline to reach an agreement is October 15. “This agreement remains More...

By The Publisher On Monday, September 18th, 2023

Analysis: Central Bank intervened much too late at ENNIA

WILLEMSTAD — The management of ENNIA has mismanaged the insurance company and might even have committed criminal acts, econometrists Servaas Houben and Ronald Ketellapper state in an analysis published by More...

By The Publisher On Thursday, September 14th, 2023

Appeals court holds Ansary liable for Ennia debacle

WILLEMSTAD — The Common Court of Justice ruled on Tuesday that insurance company Ennia is entitled to at least 153.8 million guilders ($85.9 million) in damages, caused by its major shareholder Hushang Ansary More...

By The Publisher On Tuesday, September 12th, 2023

CFT warns that ENNIA-loan poses risk for Curacao

PHILIPSBURG — If the Netherlands decides to extend a 1.2 billion guilders loan to St. Maarten and Curacao to save insurance company ENNIA, it will have dire consequences for the future of in particular Curacao. More...

By The Publisher On Monday, September 11th, 2023

Dutch loan to rescue ENNIA meets with criticism

PHILIPSBURG — If the Dutch parliament agrees, insurance company ENNIA will be saved with a 600 million euro loan from the Netherlands. But not everybody is happy with this solution. The deal is that St. Maarten More...

By Online Editor On Friday, July 21st, 2023

Lack of refinancing-agreement could cost St. Maarten millions

PHILIPSBURG – If the government does not manage to reach an agreement about the refinancing of the corona-loans with the Netherlands before October 10, it could cost St. Maarten’s treasury an additional More...

By Online Editor On Friday, July 21st, 2023

Government has to pay Bearing Point one million for canceled IT-project

PHILIPSBURG -The government has to pay 1 million guilders ($558.659) in damages to Bearing Point Management Consultancy (BPMC), the Court in First Instance ruled on July 7. The amount is an advance payment on damages More...

By Online Editor On Friday, July 21st, 2023

Van Huffelen puts Ennia-pensioners at ease

PHILIPSBURG – The 30,000 Ennia-clients in St. Maarten and Curacao do not have to worry about their pensions. This appears from the statement State Secretary Alexandra van Huffelen (Kingdom Relations) made More...