1) Entrepreneurs who owned a beauty spa in Curaçao are suing Aruba Bank and the Renaissance Hotel for almost $12 million, alleging they conspired to take over the struggling spa.
2) New evidence has emerged that contradicts statements made by Aruba Bank during an earlier court hearing, including that the bank ordered the immediate closure of the spa in 2010, not just an inventory as they claimed.
3) The spa owners believe this further proves the bank negotiated with the hotel to sell the spa's goods cheaply, allowing the Renaissance to quickly reopen the spa under its own management.
1) Entrepreneurs Mena Lopez and Emile Hassell are suing Aruba Bank and Renaissance Hotel for almost $12 million, alleging they conspired to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Aruba Bank during an earlier court hearing, including that the bank ordered the immediate closure and attachment of goods at Aqua Spa in December 2010, leading to its downfall.
3) The entrepreneurs believe this new evidence supports their claim that Aruba Bank negotiated the sale of the spa's goods to Renaissance for a low price, allowing the hotel to quickly reopen the spa itself.
1) Entrepreneurs Mena Lopez and Emile Hassell-Lopez are suing Aruba Bank and Renaissance Hotel for almost $12 million, alleging they conspired to close their Aqua Spa business so Renaissance could take it over for little money.
2) New evidence has emerged that contradicts statements made by Aruba Bank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, not just an inventory as they claimed.
3) Lopez considers this a matter of principle, believing the bank and hotel violated ethics and abused their power through negotiations to allow Renaissance to reopen the spa, continuing to pressure her
A m i g o e A r u b a October 27 2012 EnglishHomealoneagain
1) Entrepreneurs Mena Lopez and Emile Hassell are claiming almost $12 million from Arubabank and Riffort Village/Renaissance Hotel, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, contrary to previous claims.
3) The entrepreneurs believe this new evidence supports their claim that Arubabank negotiated the sale of the spa's goods to the Renaissance Hotel for a very low
A m i g o e a r u b a october 27 2012 amigoe nieuwsGhostofBetico
Entrepreneurs Mena Lopez and Emile Hassell are suing Arubabank and Renaissance Hotel for almost $12 million, alleging they conspired to bankrupt Lopez's beauty spa Aqua Spa so Renaissance could take it over for little money. New evidence suggests Arubabank lied in court about closing the spa in 2010 and negotiating its assets sale to Renaissance. The entrepreneurs argue this proves the bank improperly aided Renaissance at their expense. The court case's decision is scheduled for Monday, though Lopez vows to continue the "matter of principle" if she does not win. Arubabank and Renaissance declined to comment while the trial is ongoing.
A m i g o e a r u b a october 27 2012 eduardos business strategyGhostofBetico
1) Entrepreneurs Mena Lopez and Emile Hassell are suing Arubabank and Riffort Village/Renaissance Hotel for almost $12 million, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including that the bank closed the spa for two months and negotiated the sale of its contents to Renaissance Hotel.
3) The case has become a matter of principle for Lopez, who believes the bank and hotel violated ethics and abused their power through dishonest actions that ultimately
The document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for an airline company for the first quarter of 2004. It summarizes operating expenses, costs per available seat mile (CASM), and debt metrics on both a GAAP and non-GAAP basis, excluding items like fuel costs, pension charges, and the present value of operating leases to provide different views of the company's financial performance. On a non-GAAP basis, operating expenses and CASM decreased compared to the prior year period. Total debt including operating leases was over $20 billion and the net debt-to-capital ratio was 104% as of March 31, 2004.
1) Entrepreneurs Mena Lopez and Emile Hassell are suing Aruba Bank and Renaissance Hotel for almost $12 million, alleging they conspired to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Aruba Bank during an earlier court hearing, including that the bank ordered the immediate closure and attachment of goods at Aqua Spa in December 2010, leading to its downfall.
3) The entrepreneurs believe this new evidence supports their claim that Aruba Bank negotiated the sale of the spa's goods to Renaissance for a low price, allowing the hotel to quickly reopen the spa itself.
1) Entrepreneurs Mena Lopez and Emile Hassell-Lopez are suing Aruba Bank and Renaissance Hotel for almost $12 million, alleging they conspired to close their Aqua Spa business so Renaissance could take it over for little money.
2) New evidence has emerged that contradicts statements made by Aruba Bank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, not just an inventory as they claimed.
3) Lopez considers this a matter of principle, believing the bank and hotel violated ethics and abused their power through negotiations to allow Renaissance to reopen the spa, continuing to pressure her
A m i g o e A r u b a October 27 2012 EnglishHomealoneagain
1) Entrepreneurs Mena Lopez and Emile Hassell are claiming almost $12 million from Arubabank and Riffort Village/Renaissance Hotel, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, contrary to previous claims.
3) The entrepreneurs believe this new evidence supports their claim that Arubabank negotiated the sale of the spa's goods to the Renaissance Hotel for a very low
A m i g o e a r u b a october 27 2012 amigoe nieuwsGhostofBetico
Entrepreneurs Mena Lopez and Emile Hassell are suing Arubabank and Renaissance Hotel for almost $12 million, alleging they conspired to bankrupt Lopez's beauty spa Aqua Spa so Renaissance could take it over for little money. New evidence suggests Arubabank lied in court about closing the spa in 2010 and negotiating its assets sale to Renaissance. The entrepreneurs argue this proves the bank improperly aided Renaissance at their expense. The court case's decision is scheduled for Monday, though Lopez vows to continue the "matter of principle" if she does not win. Arubabank and Renaissance declined to comment while the trial is ongoing.
A m i g o e a r u b a october 27 2012 eduardos business strategyGhostofBetico
1) Entrepreneurs Mena Lopez and Emile Hassell are suing Arubabank and Riffort Village/Renaissance Hotel for almost $12 million, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including that the bank closed the spa for two months and negotiated the sale of its contents to Renaissance Hotel.
3) The case has become a matter of principle for Lopez, who believes the bank and hotel violated ethics and abused their power through dishonest actions that ultimately
The document provides a reconciliation of GAAP financial measures to non-GAAP financial measures for an airline company for the first quarter of 2004. It summarizes operating expenses, costs per available seat mile (CASM), and debt metrics on both a GAAP and non-GAAP basis, excluding items like fuel costs, pension charges, and the present value of operating leases to provide different views of the company's financial performance. On a non-GAAP basis, operating expenses and CASM decreased compared to the prior year period. Total debt including operating leases was over $20 billion and the net debt-to-capital ratio was 104% as of March 31, 2004.
Plasterk offers Transparency International report to Dutch ParliamentHomealoneagain
Ronald Plasterk, the Kingdom Relations Minister of the Netherlands, offered the Transparency International corruption report on Curacao to the Dutch Parliament. Plasterk did this to fulfill his commitment from a previous meeting. The report found a gap between the perceived level of corruption and actual cases reported in Curacao. It also noted that while regulations are in place, enforcement and oversight are lacking. However, the report praised financial instructions given by the Netherlands to Curacao's government as an effective monitoring mechanism since 2010.
The report found weaknesses in Curaçao's key institutions like the public sector, political parties, and media which have resulted in a general lack of trust. Transparency International assessed Curaçao's ability to combat corruption and found these areas were the weakest links. To increase trust, the report recommends guaranteeing accountability, transparency across all sectors of society, and ensuring laws and procedures are properly followed in practice.
Aruba Antille's Curcaco's Big man shot deadHomealoneagain
Helmin Wiels, the leader of the largest political party in Curaçao's Parliament, was shot and killed while buying fish on a beach. He was a vocal campaigner against corruption. Two brothers were arrested in connection with uploading a threatening video, but the murder appears to have been a professional hit as the killers knew Wiels' movements and routine. Curaçao has unstable politics, shaky finances, drug crime, and corruption despite receiving debt relief from the Netherlands in 2010 when it gained self-government. Wiels' murder has further spotlighted these issues facing the small island nation.
This document summarizes a court case between Aqua Spa, Marieta Lopez, Emile Hassell (plaintiffs), and Riffort Village Directory NV, Riffort Village NV, and Aruba Bank NV (defendants). The plaintiffs claim that Riffort unlawfully terminated their lease for a spa and that the defendants acted unlawfully against the plaintiffs. They are seeking damages. The defendants argue that Aqua Spa was in long-term default on its loan obligations to the bank and failed to provide adequate collateral or repayment plans. The bank then terminated the credit agreement and exercised its lien on the spa inventory.
- The document discusses the Natalee Holloway case and cover up in Aruba, suggesting it may be connected to criminal banking practices on the island.
- It alleges that a shadow system controlled by Dutch banks dominates the government, media, and economy in Aruba and the Netherlands Antilles, allowing them to steal wealth through fraudulent loans and disregard laws and contracts.
- This system is suggested to profit from money laundering and the drug trade, keeping the local population under control through threats while stonewalling any investigations that could expose its criminal activities.
The fight against corruption in latin america and the caribbean…Homealoneagain
Corruption imposes massive economic and social costs on countries. It corrodes public institutions, undermines governance, affects macroeconomic stability, discourages investment, and raises the cost of doing business. As a result, corruption obstructs economic growth and development. It also disproportionately burdens the poor by reducing access to public services and resources. From the perspective of international development agencies, corruption reduces the impact of aid to developing countries and weakens support for aid programs. Corruption is associated with broader weaknesses in the rule of law. Solutions must target fundamental political reforms for increased transparency, accountability, and democratic participation, though progress will be difficult and irregular. Governments can also promote private ownership, competitive markets, an honest civil service,
The document discusses concerns about Aruba's banking system, including that:
1) Interest rates on home loans are much higher in Aruba than in Holland, and personal guarantees are always required.
2) There are no clear rules around how troubled assets like foreclosed homes and cars are sold, allowing bank employees to purchase them below market value.
3) This system may incentivize banks to foreclose more to benefit employees, and rigged bidding may allow employees to purchase foreclosed assets easily and cheaply.
Colombian drug cartels have expanded their operations into the eastern Caribbean islands, trafficking hundreds of tons of cocaine and laundering drug money. This has increased violence, corruption, and criminal influence in the small island nations. In St. Kitts and Nevis, a former UN ambassador, the son of a politician, and a police inspector investigating their deaths were all murdered. Local authorities have been unable to prosecute suspects due to intimidation of witnesses and officials. The drug trade now threatens to overwhelm the governments and economies of the Caribbean islands.
Aruba has more problems then Natalee HollowayHomealoneagain
Aruba faces significant problems with drug trafficking beyond just the Natalee Holloway case. It serves as a transshipment point for cocaine from South America, with drugs moving through the island via fishing vessels, yachts, planes, and shipping containers. Aruba's large free trade zones provide opportunities for bulk shipments to pass through without scrutiny from local officials. Money laundering organizations are also well-established on the island due to its banking secrecy laws and stable currency. While Aruba cooperates with the US on counterdrug operations, its law enforcement infrastructure has limitations in fully addressing the drug problems facing the nation.
Aruba Bank employees lied before the Judge. Amigoe October 28, 2012Homealoneagain
1) Entrepreneurs Mena Lopez and Emile Hassell are claiming almost $12 million from Arubabank and Riffort Village/Renaissance Hotel, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, contrary to previous claims.
3) The entrepreneurs believe this new evidence supports their assertion that Arubabank negotiated the sale of the spa's goods to Renaissance for a very low price,
The document provides a list of key terms and considerations for tenants to address before signing a commercial lease. Tenants should get the landlord to provide a written summary of basic lease terms such as rent amount, lease length, utilities charges, and maintenance responsibilities. Tenants should also negotiate additional terms, consider asking the landlord to pay for tenant improvements, obtain a copy of the proposed lease form to review, clarify occupancy deadlines and responsibilities, address security deposit terms, clarify maintenance and repair obligations, and restrict the landlord's access to the premises.
Deathgrip Leasing And acts of Unethical BehaviorHomealoneagain
The document summarizes a predatory leasing practice called a "DeathGrip lease". Key characteristics of a DeathGrip lease include:
1) At the end of the lease term, the lessee is not allowed to simply return the equipment, but must instead choose from three restrictive options - purchase the equipment at a price to be negotiated, lease replacement equipment at terms to be decided, or renew the lease at the original rate.
2) The negotiated purchase price or replacement lease terms are not required to be reasonable and there is no dispute resolution process if the parties cannot agree.
3) If purchase or replacement lease terms cannot be agreed upon, the lease automatically renews at the original rate,
This document discusses banking fraud under United States Code §1341. It defines banking fraud as devising a scheme or artifice to defraud others of money or property through false pretenses, representations, or promises. It also includes using counterfeit or spurious coins, securities, or other items. The code prohibits using the postal service or private carriers to execute or attempt such schemes. Those found guilty face fines of up to $1,000,000 and imprisonment of up to 30 years, depending on if the fraud involves a government-declared disaster or affects a financial institution.
This document summarizes a research paper that develops an economic model to explore the causes and consequences of criminal predation in developing economies. The model shows how an economy can get trapped in a "Predators' Club" characterized by poverty and high levels of predation that undermine productive entrepreneurship. However, the model also shows that economies with a high flow of new entrepreneurs may be able to grow out of this trap by joining the "Producers' Club" of rich economies. The key mechanisms in the model involve entrepreneurs endogenously choosing to enter either predatory or productive activities, and how this choice is influenced by the level of economic development.
The investigation into the "Bientu case" was completed in early August 2012, revolving around lottery boss Robbie dos Santos who is suspected of money laundering, forgery and tax fraud. However, over 3 months later there has still been no court hearing. The case is described as a "mega case" involving multiple suspects and assistance from authorities in the Netherlands. The former Minister of Justice had improperly interfered in the case by requesting that seized bank accounts be released, but the letter was eventually withdrawn and the investigation is ongoing.
Plasterk offers Transparency International report to Dutch ParliamentHomealoneagain
Ronald Plasterk, the Kingdom Relations Minister of the Netherlands, offered the Transparency International corruption report on Curacao to the Dutch Parliament. Plasterk did this to fulfill his commitment from a previous meeting. The report found a gap between the perceived level of corruption and actual cases reported in Curacao. It also noted that while regulations are in place, enforcement and oversight are lacking. However, the report praised financial instructions given by the Netherlands to Curacao's government as an effective monitoring mechanism since 2010.
The report found weaknesses in Curaçao's key institutions like the public sector, political parties, and media which have resulted in a general lack of trust. Transparency International assessed Curaçao's ability to combat corruption and found these areas were the weakest links. To increase trust, the report recommends guaranteeing accountability, transparency across all sectors of society, and ensuring laws and procedures are properly followed in practice.
Aruba Antille's Curcaco's Big man shot deadHomealoneagain
Helmin Wiels, the leader of the largest political party in Curaçao's Parliament, was shot and killed while buying fish on a beach. He was a vocal campaigner against corruption. Two brothers were arrested in connection with uploading a threatening video, but the murder appears to have been a professional hit as the killers knew Wiels' movements and routine. Curaçao has unstable politics, shaky finances, drug crime, and corruption despite receiving debt relief from the Netherlands in 2010 when it gained self-government. Wiels' murder has further spotlighted these issues facing the small island nation.
This document summarizes a court case between Aqua Spa, Marieta Lopez, Emile Hassell (plaintiffs), and Riffort Village Directory NV, Riffort Village NV, and Aruba Bank NV (defendants). The plaintiffs claim that Riffort unlawfully terminated their lease for a spa and that the defendants acted unlawfully against the plaintiffs. They are seeking damages. The defendants argue that Aqua Spa was in long-term default on its loan obligations to the bank and failed to provide adequate collateral or repayment plans. The bank then terminated the credit agreement and exercised its lien on the spa inventory.
- The document discusses the Natalee Holloway case and cover up in Aruba, suggesting it may be connected to criminal banking practices on the island.
- It alleges that a shadow system controlled by Dutch banks dominates the government, media, and economy in Aruba and the Netherlands Antilles, allowing them to steal wealth through fraudulent loans and disregard laws and contracts.
- This system is suggested to profit from money laundering and the drug trade, keeping the local population under control through threats while stonewalling any investigations that could expose its criminal activities.
The fight against corruption in latin america and the caribbean…Homealoneagain
Corruption imposes massive economic and social costs on countries. It corrodes public institutions, undermines governance, affects macroeconomic stability, discourages investment, and raises the cost of doing business. As a result, corruption obstructs economic growth and development. It also disproportionately burdens the poor by reducing access to public services and resources. From the perspective of international development agencies, corruption reduces the impact of aid to developing countries and weakens support for aid programs. Corruption is associated with broader weaknesses in the rule of law. Solutions must target fundamental political reforms for increased transparency, accountability, and democratic participation, though progress will be difficult and irregular. Governments can also promote private ownership, competitive markets, an honest civil service,
The document discusses concerns about Aruba's banking system, including that:
1) Interest rates on home loans are much higher in Aruba than in Holland, and personal guarantees are always required.
2) There are no clear rules around how troubled assets like foreclosed homes and cars are sold, allowing bank employees to purchase them below market value.
3) This system may incentivize banks to foreclose more to benefit employees, and rigged bidding may allow employees to purchase foreclosed assets easily and cheaply.
Colombian drug cartels have expanded their operations into the eastern Caribbean islands, trafficking hundreds of tons of cocaine and laundering drug money. This has increased violence, corruption, and criminal influence in the small island nations. In St. Kitts and Nevis, a former UN ambassador, the son of a politician, and a police inspector investigating their deaths were all murdered. Local authorities have been unable to prosecute suspects due to intimidation of witnesses and officials. The drug trade now threatens to overwhelm the governments and economies of the Caribbean islands.
Aruba has more problems then Natalee HollowayHomealoneagain
Aruba faces significant problems with drug trafficking beyond just the Natalee Holloway case. It serves as a transshipment point for cocaine from South America, with drugs moving through the island via fishing vessels, yachts, planes, and shipping containers. Aruba's large free trade zones provide opportunities for bulk shipments to pass through without scrutiny from local officials. Money laundering organizations are also well-established on the island due to its banking secrecy laws and stable currency. While Aruba cooperates with the US on counterdrug operations, its law enforcement infrastructure has limitations in fully addressing the drug problems facing the nation.
Aruba Bank employees lied before the Judge. Amigoe October 28, 2012Homealoneagain
1) Entrepreneurs Mena Lopez and Emile Hassell are claiming almost $12 million from Arubabank and Riffort Village/Renaissance Hotel, alleging they conspired to allow the hotel to take over their bankrupt beauty spa Aqua Spa for very little money.
2) New evidence has emerged that contradicts statements made by Arubabank during a previous court hearing, including confirmation that the bank ordered an immediate closure of the spa in December 2010, contrary to previous claims.
3) The entrepreneurs believe this new evidence supports their assertion that Arubabank negotiated the sale of the spa's goods to Renaissance for a very low price,
The document provides a list of key terms and considerations for tenants to address before signing a commercial lease. Tenants should get the landlord to provide a written summary of basic lease terms such as rent amount, lease length, utilities charges, and maintenance responsibilities. Tenants should also negotiate additional terms, consider asking the landlord to pay for tenant improvements, obtain a copy of the proposed lease form to review, clarify occupancy deadlines and responsibilities, address security deposit terms, clarify maintenance and repair obligations, and restrict the landlord's access to the premises.
Deathgrip Leasing And acts of Unethical BehaviorHomealoneagain
The document summarizes a predatory leasing practice called a "DeathGrip lease". Key characteristics of a DeathGrip lease include:
1) At the end of the lease term, the lessee is not allowed to simply return the equipment, but must instead choose from three restrictive options - purchase the equipment at a price to be negotiated, lease replacement equipment at terms to be decided, or renew the lease at the original rate.
2) The negotiated purchase price or replacement lease terms are not required to be reasonable and there is no dispute resolution process if the parties cannot agree.
3) If purchase or replacement lease terms cannot be agreed upon, the lease automatically renews at the original rate,
This document discusses banking fraud under United States Code §1341. It defines banking fraud as devising a scheme or artifice to defraud others of money or property through false pretenses, representations, or promises. It also includes using counterfeit or spurious coins, securities, or other items. The code prohibits using the postal service or private carriers to execute or attempt such schemes. Those found guilty face fines of up to $1,000,000 and imprisonment of up to 30 years, depending on if the fraud involves a government-declared disaster or affects a financial institution.
This document summarizes a research paper that develops an economic model to explore the causes and consequences of criminal predation in developing economies. The model shows how an economy can get trapped in a "Predators' Club" characterized by poverty and high levels of predation that undermine productive entrepreneurship. However, the model also shows that economies with a high flow of new entrepreneurs may be able to grow out of this trap by joining the "Producers' Club" of rich economies. The key mechanisms in the model involve entrepreneurs endogenously choosing to enter either predatory or productive activities, and how this choice is influenced by the level of economic development.
The investigation into the "Bientu case" was completed in early August 2012, revolving around lottery boss Robbie dos Santos who is suspected of money laundering, forgery and tax fraud. However, over 3 months later there has still been no court hearing. The case is described as a "mega case" involving multiple suspects and assistance from authorities in the Netherlands. The former Minister of Justice had improperly interfered in the case by requesting that seized bank accounts be released, but the letter was eventually withdrawn and the investigation is ongoing.
1. ABO News - Home | Aruba Bank
AMIGOE ARUBA
Entrepreneurs Aqua Spa fight on
Sunday, 28 October 2012 17:02
ORANJESTAD — In the multi-million claims case against Aruba Bank and
Riffort Village/Renaissance Hotel, the bank recently lied before the judge,
said Aruban entrepreneurs who instituted proceedings based on new
evidence.
A decision on this case from the meanwhile bankrupt beauty parlor Aqua Spa
at the Renaissance Hotel on Curaçao is scheduled for Monday, October 29.
The case had come up in court on September 18 on which the Amigoe
reported on September 20. At the time the judge already paid much attention
to the role of Aruba Bank in the company‘s ruin. Entrepreneurs Hassell-Lopez
(mother Mena and son Emile) claimed almost 12 million florins because they
alleged the bank had connived with Renaissance so that the hotel could take
over the spa for very little.
Attachment of goods
In court the judge mainly asked questions as to why the bank – when there
was a question of arrears with the entrepreneurs – had closed the spa for
two months and left the contents inside. A clear answer wasn‘t given in court
because Aruba Bank made it clear that it hadn‘t actually closed the business
on December 22, 2010. The bank implied in court that the spa could have
continued its business. The bank had gone to the spa with a bailiff that day
but only to take stock. By its own account the bank took that action because
it feared the entrepreneurs would try to sell the insolvent spa. After all the
bank had tried to contact spa-director Emile for days and on December 17
the bank finally visited mother Mena Lopez who supposedly mentioned the
sale at the time. For that matter, the entrepreneurs categorically deny the
sale.
2. After the session in court on September 18 the entrepreneurs immediately
started collecting new evidence against what the two bank employees had
stated before the judge. A conversation followed with the bailiff and
personnel from Aruba Bank, who unexpectedly visited the spa and
immediately closed the business. This bailiff states he acted by order of the
bank to place an attachment on the goods. According to him, this
automatically means closing the business immediately. The request to place
an attachment had already been made on December 7, according to a letter
from the lawyer currently representing Aruba Bank in this case. The Aruba
Bank lied once again to the judge on having waited until after December 17
to take action, said Lopez.
Matter of principle
The bailiff also stated that the auction of the seized goods was held several
months later because Aruba Bank negotiated with Eduardo de Veer Jr. from
Renaissance on how much De Veer would pay for the goods. Entrepreneurs
Hassell and Lopez consider this further evidence for their proposition that
the goods were sold for next to nothing so that Renaissance could eventually
reopen the spa quickly on its own. During the auction the goods were sold to
De Veer for 76,000 florins. It was a public auction and according to a
statement from another beauty specialist who wanted to make a bid,
everyone who had come felt they were taken for a ride because apparently
there was already an agreement that Renaissance would buy the business.
The entrepreneurs also query this considering their current debt of 1.6
million which Aruba Bank had reclaimed while the bank had sold their goods
for a very low price. According to Lopez, this also proves that the bank had
lied about their collaboration with Renaissance.
Lopez, who had a spa for years on Aruba, says this case has now become a
matter of principle. ―Behind our backs the bank negotiated with Renaissance
to take over the spa, thus violating ethic rules. I don‘t want to become 80
years and live with this dishonesty for years. We call this swindle here.
During the court session the lawyer of Renaissance spoke of the goose with
the golden eggs and that the hotel must not become a playground for
companies. However, it happens to be their playground and they have the
3. goose with the golden eggs while they and the bank abuse their power to put
pressure on an ambitious entrepreneur.‖ This pressure continues said Lopez
because despite the trial bailiffs still pay her salon on Aruba unexpected
visits. She finds the conduct of the Aruba Bank – ‗I‘m not talking about all
banks because I had a good relation with RBC for example‘ – and the lying
shocking. ―Like many, I‘ve been raised to respect banks. They are to comply
with high ethical standards; that‘s how they promote themselves. At first I
couldn‘t believe their intentions and it took some time before I understood.
That‘s why I always compare my shock with that of the reports on abuse in
the Catholic Church.‖
Events
In any case Lopez will never borrow from a bank again. She sees events as
the upcoming Aruba Small Business Week as a ‗front‘ to get entrepreneurs to
contract a loan. ―I know them because I too visited such events. It sounds
promising for the average entrepreneur who has little time and listens to
information that is aiming too high. These are socializing events where food
and drinks are served, something comparable to falling in love. However, the
wake-up call comes once you‘ve signed. Signing a loan agreement with
Aruba Bank with personal surety is like Hotel California to me: you can check
out but you can never leave.‖ Lopez advises other entrepreneurs to use their
savings or bring in capital together with other equal partners. ―Take it slow,
and grow step by step on your own.‖
On her trial she states: ―the judge also urged for a settlement and was
prepared to give more time. Lopez says there‘ve been approaches by Aruba
Bank and Renaissance since September 18 but there‘s nothing concrete as
yet. If the verdict next Monday is not in her favor, the entrepreneur will not
give up. ―It‘s become a matter of principle; this is not how you treat people.‖
No comment
Aruba Bank and Renaissance said they wouldn‘t comment while the trial is in
progress. As reported earlier by the Amigoe they deny the conspiracy. They
blame the downfall of Aqua Spa on inexperience, especially of director
Hassell, and consider this the risk of entrepreneurship.