Michael Psaila

For many Maltese companies, financial difficulty used to mean a stark choice: muddle through and hope for the best, or head straight for insolvency. A new legal route — preventive restructuring — changes that equation by creating space to repair a viable business before it is too late. For years, the story was familiar. A business in Malta hits a rough patch — a delayed customer payment, a lost contract, a costly dispute, a run of poor trading. Directors, often with the best of intentions, focus on keeping the doors open and the payroll met. Credit stretches. Bank facilities are…