1. Aruba Banking & Offshore Bank Accounts
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.