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Corporate and M&A

Corporate and M&A

Sanctions 4: A General Overview of the EU Sanctions Imposed against Russia

Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia. Through this series of articles, we aim to provide a general overview of the notion of sanctions, consider the local framework through which sanctions function in Malta, illustrate the general obligations which subject persons are required to observe vis-à-vis sanctions and discuss a general overview of the sanctions imposed by the EU against Russia. In this fourth article, we shall consider some salient aspects on the EU sanctions imposed on Russia. A common misconception on sanctions imposed…
Edmond Zammit Laferla and Zachary Galea
23rd October 2023
Bridging the Gender Pay Gap…New EU Rules for Pay Transparency
Corporate and M&A

Landmark Judgment – Property Devolving on the Government After a Company is Rendered Defunct Breaches Human Rights

The unconstitutional nature of property devolving on the Government of Malta following the procedure to render a company defunct  Introduction  On 12 October 2023, the First Hall of the Civil Court in its Constitutional Jurisdiction delivered a landmark ruling in the case Carmel Cortis et vs. Office of the Prime Minister et. Essentially, the Court held that the procedure whereby property devolves upon the Government, as part of the provisions set out in the Companies Act to render a company defunct1, is unconstitutional, draconian and disproportionate because it breaches the fundamental right to property enshrined in the Constitution and in…
Matthew Muscat
19th October 2023
Corporate and M&A

Sanctions 3: Duties of Subject Persons in Relation to International Sanctions

Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia. Through this series of articles, we aim to provide a general overview of the notion of sanctions, consider the local framework through which sanctions function in Malta, illustrate the general obligations which subject persons are required to observe vis-à-vis sanctions and discuss a general overview of the sanctions imposed by the EU against Russia. In this third article, we shall consider the additional duties of subject persons (under the PMFLTR) in relation to international sanctions. There are…
Edmond Zammit Laferla and Zachary Galea
13th October 2023
Corporate and M&ALegal Updates

Corporate Legal Update for the Month of September 2023

On the 1st of September 2023, Legal Notice 208 of 2023 was published in the Supplement to the Government Gazette by the title of the Financial Collateral Arrangements (Amendment) Regulations (hereinafter referred to as the “Amendment Regulations”). The scope of these Amendment Regulations is to transpose the contents of article 89 of EU Regulation 2021/23 on a framework for the recovery and resolution of central counterparties, which provision amended  Directive 2002/47/EC on financial arrangements. The Amendment Regulations amend the principal regulations, the Financial Collateral Arrangements Regulations, Subsidiary Legislation 459.01. Among the amendments introduced by the Amendment Regulations are the introduction…
Mamo TCV Advocates
13th October 2023
Corporate and M&ALitigation & Dispute Resolution

Commercial Court’s Landmark Decision: Redefining Impracticability in Corporate Governance

In the case 44/2023/ISB delivered on 6th October 2023, the applicant, a majority shareholder in a company requested the Civil Court (Commercial Section) to fix a date for an extraordinary general meeting of the company under Art 132(1) of the Companies Act in an attempt to remove two directors from the Board of Directors without adequately proposing replacements. Such a move could push the company into a precarious state of regulatory non-compliance, endangering its very existence as it may lose its operational license. These consequences also undermine the minority shareholder’s decade long commitment which contributed to the company’s consistent profitability,…
Kristen Camilleri and Jonathan Abela Fiorentino
11th October 2023
Mamo TCV: In this second article, we shall consider sanctions from a Maltese law perspective.
Corporate and M&A

Sanctions 2: International Sanctions from a Maltese Perspective

Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia. Through this series of articles, we aim to provide a general overview of the notion of sanctions, consider the local framework through which sanctions function in Malta, illustrate the general obligations which subject persons are required to observe vis-à-vis sanctions and discuss a general overview of the sanctions imposed by the EU against Russia. In this second article, we shall consider sanctions from a Maltese law perspective. The main legislation applicable to sanctions in Malta is the…
Edmond Zammit Laferla and Zachary Galea
6th October 2023