On 24 April 2020, the European Commission approved Malta's €215 million wage subsidies scheme, which aims to prevent unemployment and to support undertakings that operate in sectors that have been greatly affected by the current outbreak. The notified aid comprises a scheme to finance wage costs of employers that would have otherwise had to lay off their employees as a result of COVID-19. Any undertaking, including self-employed individuals, hit hard by the pandemic may benefit under this scheme. Beneficiaries will receive aid that is proportional to their salary,...

On 22 nd April, 2020, the European Commission approved Malta's €5.3 million scheme to support investment in research and development related to the current pandemic. Any company, including public entities, intending to undertake research and development regarding COVID-19, and other related projects may benefit under the scheme. The scheme is intended to support the development of new solutions – such as medicinal products, medical equipment, and data collection tools – for the current crisis while also bettering foresight tools and methodologies for the future. B...

The Legal 500 EMEA published its 2020 edition and rankings on 15 th April, 2020 and once again recognized Mamo TCV Advocates as one of the leading law firms in Malta. Apart from the top tier ranking for the firm in practically all its areas of practice, 3 of our partners were recognized as "Leading Lawyers" and another 14 partners and associates were singled out for their work. This is how the Legal 500 described our work and expertise: AVIATION - TIER 1 Mamo TCV Advocates' aviation practice specialises in asset finance, tax and corporate set-ups, aircraft ownersh...

On the 3 rd April, 2020, the European Securities and Markets Authority (" ESMA ") published its final guidelines on performance fees in Undertakings for Collective Investments in Transferable Securities (" UCITS ") and certain types of Alternative Investment Funds (" AIFs "). The guidelines provide comprehensive guidance to fund managers when designing performance fee models for the funds they manage, including the assessment of the consistency between the performance fee model and the fund's investment objective, policy and strategy, particularly when the fund is...

On 2 April 2020, the European Commission approved Malta's State aid scheme to support the local economy amid the COVID-19 outbreak. The scheme has an estimated budget of €350 million to enable public guarantees on loans to support the Maltese economy as it navigates through the current situation. It will also help businesses cover their liquidity needs. The Maltese government notified the scheme under the EU State aid Temporary Framework that was put into effect on the 19 March 2020. In approving the scheme, the European Commission acknowledged that this measure i...