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Corporate and M&A

Recognition of UK Insolvency Proceedings in Malta Post-Brexit

Prior to 1st January, 2021, the cross-border recognition and enforcement of insolvency proceedings and judgements between the European Union ("EU") and the United Kingdom ("UK") was largely consolidated within the framework of the European Insolvency (Recast) Regulation (the "EIR") which generally attributed automatic recognition to such proceedings and/or judgements. Following the end of the Brexit transitional period on the 31st December 2020, the EIR no longer applies to the UK. Consequently, insolvency proceedings opened in the UK after 31st December 2020 will not benefit from automatic recognition. The EIR applies a set of common rules in determining the jurisdiction to…
Simon Pullicino
22nd February 2021
Antitrust, Competition and TradeCorporate and M&ALitigation & Dispute ResolutionWinding Up and Insolvency

Future judicial cooperation between the EU & UK: Assessing the implication of a “Hard Brexit” for judicial cooperation in civil and commercial matters.

The EU-UK Trade and Cooperation Agreement (the "TCA") concluded on Christmas Eve, 2020 is silent with respect to judicial cooperation in civil and commercial matters (as opposed to cooperation in criminal matters). Consequently, as from 1st January, 2021 the UK is treated as a third state with respect to the application of a number of significant EU legislation regulating matters of cross-border judicial cooperation (e.g. the rules governing the recognition and enforcement of court judgements or the choice of jurisdiction and applicable law clauses). Given the regularity with which an English law clause, usually supported by a choice of English…
Simon Pullicino
8th February 2021
Winding Up and Insolvency

Publication of FIAU Interpretative Note for Lawyers

On 26 August 2020, the Malta Financial Intelligence Analysis Unit (FIAU) published its 'Interpretative Note: Relevant Activity for Lawyers' (the Interpretative Note) designed to guide legal professionals in determining the conditions under which a 'relevant activity' in terms of Malta's AML/CFT legislative framework may arise. Being able to ascertain these conditions is of paramount importance, given that obligations under the applicable AML legislation will only apply where a legal professional carries out a relevant activity. When the activity in question falls outside the statutory definition of relevant activity, the legal professional carrying out such activity would not be considered a…
Simon Pullicino
29th August 2020
Banking & Finance

EBA backs EU Commission’s Efforts to Strengthen AML/CFT Framework.

On 19 August, 2020 the EBA published its response to the European Commission's Action Plan for a comprehensive Union policy on preventing money laundering and terrorism financing (ML/FT), largely throwing its support behind the Commission's Action Plan. In its response, the EBA has provided technical input designed to better guide the Commission in its implementation of the Action Plan. In the EBA's view, a comprehensive assessment of the current EU AML/CFT framework is necessary to ensure that the EU and the Member States are well-equipped with an effective set of tools in its AML/CFT arsenal. In endorsing the Action Plan,…
Simon Pullicino
24th August 2020
Banking & Finance

Mamo TCV contributes to Taylor Wessing’s Offshore Security Enforcement Guide

​Mamo TCV has contributed to Taylor Wessing's Offshore Security Enforcement Guide, 2016 further cementing its status as to the "go-to" Maltese law firm for several foreign international firms, particularly in the practice areas of banking, corporate finance and security-backed financing. The aim behind this Guide is to offer a handy and easily accessible comparative exercise on a number of key financial jurisdictions (including Malta) with an emphasis on enforcing security. This Guide is intended to serve as an overview and does not purport to replace specialist legal advice and is not intended to act as a substitute for obtaining legal…
Simon Pullicino
4th November 2016