WILLEMSTAD - The Director of Korpodeko, Chesron Isidora, who has had a long career in the banking sector, is preparing to enjoy his well-deserved retirement "with a clean slate and a clear conscience." This statement was made by Isidora’s attorney following a court ruling last week in the dispute between Isidora and Stichting Korporashon pa Desaroyo di Kòrsou (Korpodeko).
Curaçao Chronicle spoke with Isidora after the ruling in his favor. He expressed relief and satisfaction with the court’s decision, stating, “This outcome not only validates my position but also clears my name after what has been a challenging period.”
The Case
Korpodeko sought to terminate Isidora’s contract without severance or, alternatively, to limit the severance payment to the statutory maximum of 100,000 guilders under the Landsverordening Normering Topinkomens (LNT). This amount would also have been reduced by five months' salary that Isidora received during his period of incapacity for work.
However, the court ruled in Isidora’s favor, granting him compensation of 180,000 guilders without deducting the salary paid during his sick leave. Isidora’s attorney, Bertie Braam, emphasized the significance of the ruling, stating, “Not only has the court awarded Isidora a fair compensation—80 percent higher than the statutory maximum—but it also rejected all accusations Korpodeko made to justify their attempt to terminate the contract without severance.”
Braam further noted that the higher compensation underscores that Isidora bears no responsibility for the breakdown in the relationship between him and Korpodeko.
A Landmark Decision
The court ruling highlighted a tension between societal expectations and the case’s unique circumstances. While the LNT generally limits severance payments in the semi-public sector to prevent excessive payouts from public funds, the court found it appropriate to award a higher sum to Isidora due to the circumstances of the case.
The court has decided to dissolve the employment contract as of December 10, 2024, citing changes in circumstances and awarding the severance pay to Isidora.
A Decade of Service
Isidora’s tenure at Korpodeko began in May 2012 as General Director under a fixed-term contract, which was converted to a permanent agreement in April 2014. Reflecting on his time at the organization, Isidora told Curaçao Chronicle, “I am proud of the contributions I’ve made to Korpodeko and to the economic development of Curaçao.”
With this ruling, Isidora’s chapter at Korpodeko officially comes to a close. The former director now looks forward to retirement, assured by the court’s recognition of his integrity and service.