Prior to 1 st 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 31 st December 2020, the EIR no longer applies to the UK. Consequently, insolvency proceedings opened in the UK after 31 st December ...

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 r...

This article was written by Dr Michael Psaila and Dr Joshua Chircop Overview On the 23 rd 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 13 th May 2020. This...

This article was written by Dr Michael Psaila and Dr Joshua Chircop . Overview On 13 th May 2020, the Minister for the Economy, Investment and Small Businesses tabled the Companies Act (Amendment) Bill (the "Bill") which proposes certain amendments to the Companies Act , Chapter 386 of the Laws of Malta (the "Act"). The Bill proposes: 1.new grounds for ineligibility and disqualification from holding certain offices under the Act; 2.new powers to the Minister to make regulations on winding up applications (including the suspension of the right to make winding up ap...

On 12 th May 2020, Legal Notice 192 of 2020, the Companies Act (Company Reconstructions Fund) Regulations 2020 (the " Regulations ") was published to supplement the company recovery procedure as provided under article 329B of the Companies Act (Chapter 386 of the laws of Malta) (the "Act" ). Objective of the Regulations The Regulations set up and regulate the administration and operation of a fund to be designated the Company Recovery Fund (the " Fund ") which is intended to facilitate the company recovery procedure under article 329B of the Act. The Fund shall re...