The court cases against Dama N.V. in Curacao from June 2024 have been solved, and the operator’s insolvency status has been overturned.. (Images courtesy of Fahrul Fahrizal on Vecteezy)
The legal attack on Dama N.V. seems to have been quashed after the Curacao Joint Court of Justice officially overturned the operator’s bankruptcy status.
After keeping tabs on the operator’s business page for some time, I noticed the bankruptcy status had been removed from the publicly accessible Curacao Commercial Register.
On top of this, I have finally found an official source besides a Reddit user and another independent cryptocurrency new publisher, which offers news similar to Casinoplusbonus EN, but neither cited an official source in the crypto sphere.
Curacao Court Lifts Bankruptcy Status
As of August 2024, the courts officially lifted the bankruptcy notice. My source is the Curacao Chronicle, which has a short news report titled Bankruptcy of gambling company Dama overturned.
Judging by the Curacao Chronicle report, the claimants have had their claims settled. It could just simply be a case of Dama N.V. proving it has the funds to fight off these legal claims, and mediation meant the players were remunerated fairly.
Furthermore, according to the correspondent who issued the report in the Curacao Chronicle, the judge ruled in favour of bankruptcy on 12 June 2024, citing that Dama N.V. failed to play players’ claims. It’s a little strange because the screenshots in my original report show the bankruptcy status beginning 10 June 2024, but who is counting?
The plural ‘players’ confirms to me that there was more than one claimant involved, but the nature of the claims is still not clear, except for one sentence that mentions’ Dama N.V. “had stopped making payments to players” with no explanation as to why or which countries these players are from.
Usually, these types of claims occur because players break the terms and conditions of online or online casinos.
Adding to this, the Curacao Chronicle, with no date specified, states, “The court subsequently ruled that the company was indeed not in a state of insolvency”. This was thanks to Dama N.V. creditors producing satisfactory financial evidence to overturn the initial June 12 ruling.
The Initial Bankruptcy Saga
Initially, the courts in Curacao had no choice but to legally declare the operator insolvent due to unsettled claims against one of the operator’s online casino brands using its white-label services business model.
That bankruptcy ruling came in June 2024, when I reported on the situation and speculated what I thought may have been happening in my news coverage titled Dama N.V. Bankruptcy Rumours. Whether my speculations were correct or not, I don’t think we’ll ever know.
To be clear, as Dama N.V. is a subsidiary of SOFTSWISS, I didn’t believe the company was in danger of bankruptcy for a second. My personal thoughts were it was a case of a lawyer or lawyers strongarming the company by forcing the Curacao courts to declare Dama N.V. bankrupt.
That may still have been the case, and by the looks of things, the players have been settled, and Dama N.V. has proved it is in sound financial health.
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