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Legal Update

Exercise of power to stay proceedings under Article 220 of the Companies Act

In its recent decision HSBC Bank Malta Plc v The Golden Shepherd Group Limited, (decided 4th October, 2018) the Civil Court (Commercial Section) exercised its special powers under Article 220 of the Companies Act to stay proceedings pending against the defendant company ("Golden Shepherd"). Golden Shepherd is currently the defendant in on-going dissolution and winding up proceedings instituted by HSBC Bank Malta Plc ("HSBC"). Article 220 allows a company, a creditor or a contributory of that company from applying to the court, at any time after the filing of a winding up application, requesting a stay of judicial proceedings pending against…
MamoTCV Advocates
17th October 2018
Legal Update

Exercise of power to stay proceedings under Article 220 of the Companies Act

In its recent decision HSBC Bank Malta Plc v The Golden Shepherd Group Limited, (decided 4th October, 2018) the Civil Court (Commercial Section) exercised its special powers under Article 220 of the Companies Act to stay proceedings pending against the defendant company ("Golden Shepherd"). Golden Shepherd is currently the defendant in on-going dissolution and winding up proceedings instituted by HSBC Bank Malta Plc ("HSBC"). Article 220 allows a company, a creditor or a contributory of that company from applying to the court, at any time after the filing of a winding up application, requesting a stay of judicial proceedings pending against…
MamoTCV Advocates
17th October 2018