Tag archive for ‘ennia’
By The Publisher On Wednesday, January 8th, 2025
0 Comments

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...

By The Publisher On Saturday, December 21st, 2024
0 Comments

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...

By The Publisher On Tuesday, November 19th, 2024
0 Comments

“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...

By The Publisher On Sunday, October 6th, 2024
0 Comments

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...

By The Publisher On Thursday, August 8th, 2024
0 Comments

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...

By The Publisher On Tuesday, August 6th, 2024
0 Comments

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...

By The Publisher On Saturday, June 29th, 2024
0 Comments

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...

By The Publisher On Thursday, June 20th, 2024
0 Comments

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...

By The Publisher On Wednesday, December 20th, 2023
0 Comments

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...

By The Publisher On Tuesday, November 21st, 2023
0 Comments

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...