
ENNIA rises from the ashes, but questions remain
PHILIPSBURG — The rescue plan for embattled insurance company ENNIA is underway. The Central Bank of Curacao and St. Maarten (CBCS) announced the launch of a new entity per January 1, 2025. The Central Bank More...

Ghost employee Derby has to pay millions to Ennia
PHILIPSBURG — The Court in First Instance sentenced Clarence Derby, the former manager of The Towers at Mullet Bay to pay insurance company Ennia more than $2.1 million for payments he received without a More...

“Hands-Off or All-In?” Doran Pushes for Sint Maarten’s Right to Mullet Bay
PHILIPSBURG — November 19th, 2024 — MP Egbert Doran is voicing serious concerns over the government’s recent handling of the Ennia amendment, specifically regarding the sale of the Sun Resorts Ltd. N.V.-owned More...

Can the Government Guarantee ENNIA Pension Fund Recovery?
~ And what are the implications of moral hazard? ~ By Terrance Rey The question of whether the government can guarantee the recovery of the ENNIA pension fund is a critical one, especially for the policyholders More...

Solution or no solution: what does it mean for the ENNIA policyholders in St. Maarten?
PHILIPSBURG — Finance Minister Marinka Gumbs made clear during a meeting of Parliament in June that the Outline Agreement as a solution for troubled insurance company ENNIA is not the best solution for St. More...

CBCS sounds the alarm over lack of parliamentary approval for ENNIA-solution
PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) wants to finalize the restructuring of troubled insurance company ENNIA by December 1 of this year but it is unable to do so without approval More...

Finance Minister Gumbs criticizes Ennia-solution
PHILIPSBURG — Finance Minister Marinka Gumbs is highly critical of the proposed solution to keep insurance company Ennia out of bankruptcy. The Netherlands has made the interest rate St. Maarten has to pay More...

Court appoints appraiser to determine fair value of Mullet Bay
PHILIPSBURG -- The Common Court of Justice will appoint Greg Becker of the Canadian real estate management company Colliers as appraiser for providing an advice about the fair value of Mullet Bay. Collier was established More...

Central Bank reaches agreement to protect Ennia pensions
PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) has reached an agreement with the governments of Curacao and St. Maarten whereby there is no need for cuts in the pensions of Ennia policy More...

Investigative journalism consortium dives into the ENNIA-saga
PHILIPSBURG — The International Consortium of Investigative Journalists (ICIJ) has published an article about the dispute between ENNIA’s majority shareholder Hushang Ansary and the Central Bank of Curacao More...