Malta

Corporate and M&A

Amendments to the Companies Act

This article was written by Dr Michael Psaila and Dr Joshua ChircopOverviewOn the 23rd June 2020, the President, on the advice and with the consent of the House of Representatives, enacted the Companies (Amendment) Act, Act number XXXI of 2020 (the "Amendment Act"), which introduces certain amendments to the Companies Act, Chapter 386 of the Laws of Malta (the "Act").The Companies (Amendment) Bill (the "Bill") was previously tabled before the House of Representatives by the Minister for the Economy, Investment and Small Businesses on the 13th May 2020. This Bill was reported in a previous article.The Act introduces:new grounds for…

Michael Psaila5th July 2020

Aviation Shipping, Yachting and Transport

Cell Companies in Shipping and Aviation Business

This article was written by Dr Nicholas Valenzia and Dr Joshua Chircop.Amendments have been made to the Companies Act allowing for the introduction of regulations regarding Cell Companies carrying on or engaged in Shipping or Aviation Business (the "Regulations").The RegulationsThe amendments have introduced a new article to the Companies Act, which gives the authority to the Minister responsible for the registration of commercial partnerships (the "Minister") to make the Regulations. The Regulations are expected to be promulgated under Maltese law imminently.The Regulations are expected to provide for the formation, constitution, authorisation and regulation of Cell Companies carrying on or engaged…

Nicholas Valenzia15th May 2020

Corporate and M&A News

Duties of Directors of Financially Distressed Companies

Professor Andrew Muscat, who heads the Corporate Law Department at the Firm, has published a series of articles in the Times of Malta dealing with the duties and liabilities of directors of a company experiencing financial difficulties. This subject is particularly relevant these days when several companies are finding themselves in a difficult position as a result of the Covid-19 worldwide pandemic. The first article in the series introduced the subject of directors' duties and the notion of insolvency (https://timesofmalta.com/articles/view/duties-and-liabilities-of-directors-of-companies-in-financial.786188 )The second article explored the statutory duties of directors, including those duties which, if breached, may constitute a criminal offence…

Andrew Muscat22nd April 2020

COVID19 Measures Immigration

Return to Malta by Sunday, 12th April, 2020

Return to Malta by Sunday, 12th April, 2020On Tuesday, 7th April, 2020 the Ministry for Foreign and European Affairs issued a statement urging Maltese nationals who are still residing abroad to make their way back to Malta by no later than Sunday, 12th April, 2020.With the increasing spread of the COVID-19 virus, coupled with the numerous lockdowns of airports abroad, the Maltese government has stated that Maltese nationals should return back to Malta via Frankfurt Main or via London Heathrow.Those who choose to return are to send their flight itinerary, together with a copy of their passport biometric page, to…