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Court of Justice of the European Union Issues Decision on a Potential Breach of Sanctions Corporate and M&A

Court of Justice of the European Union Issues Decision on a Potential Breach of Sanctions

The Court of Justice of the European Union (the “CJEU”) has issued a decision (C-109/23) on a reference for a preliminary ruling requested by a German court in relation to a potential breach of restrictive measures issued against Russia. The referring court requested the CJEU to provide a ruling on whether a German notary would have infringed the prohibition to provide legal advisory services to a legal person in Russia had he authenticated a contract for the sale of title to an apartment that was entered into between the Russian legal person as seller and a national of a Member…
Zachary Galea
9th September 2024
Mamo TCV Advocates: EU flag
Council of Europe Issues Guidance on Best Practices on Implementation of Restrictive Measures Corporate and M&A

Council of Europe Issues Guidance on Best Practices on Implementation of Restrictive Measures

The Council of Europe has recently published a guidance note to the general public considering the best practices for the effective implementation of restrictive measures. This guidance note sets out to provide a non-exhaustive list of recommendations for the effective implementation of restrictive measures. The first set of recommendations relates to the designation and identification of persons and entities which are subject to restrictive measures. One of these recommendations relates to the specific identifiers of persons and entities which are subject to targeted restrictive measures. The Council of Europe suggests that as many specific identifiers as possible be published at…
Zachary Galea
28th August 2024
Legal Update
Malta Business Registry Issues Notice Regarding Memoranda and Articles of Association Antitrust, Competition and TradeCorporate and M&ARegulatory Compliance

Malta Business Registry Issues Notice Regarding Memoranda and Articles of Association

On the 29thJuly, the Malta Business Registry (MBR) issued a notice advising that any memoranda and articles of association being filed with the Registrar of Companies, whether in the course of an incorporation of a new company or as an amendment to memoranda and articles of association of companies already registered, need to be amended in order to refer to certain notification obligations which Maltese companies may be subject to. The required amendment relates to the objects clause of a company’s memorandum and articles of association and the proviso which is generally included which provides that the objects for which…
Mamo TCV Advocates
30th July 2024
Mamo TCV Advocates - Act No XVIII of 2024 seeks to address certain issues in the provisions of the Companies Act
An Overview of the Recent Amendments to the Companies Act Corporate and M&A

An Overview of the Recent Amendments to the Companies Act

On 15th April 2024, Bill No. 96 titled the ‘Companies (Amendment) Bill’ was presented to Parliament by the Minister for the Economy, Enterprise and Strategic Projects for its first reading. The Bill was subsequently passed as Act No. XVIII of 2024 (the ‘Act’) on the 17th May 2024. The Act specifically seeks to clarify certain provisions related to inter alia the reduction of companies’ issued share capital and share cancellation following a share buy-back, the requisition of general meetings by shareholders and to improve the quality of reporting standards to the Registrar of Companies (the ‘Registrar’). The aim of this…
Neeraj Bharwani, Nicole Portelli and Michael Psaila
30th May 2024
Mamo TCV Advocates: Reporting Obligations on the Flow of Funds by Russian-Owned Entities
Sanctions 8: Reporting Obligations on the Flow of Funds by Russian-Owned Entities Corporate and M&A

Sanctions 8: Reporting Obligations on the Flow of Funds by Russian-Owned Entities

Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in international sanctions. 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 eighth article, we shall consider the salient aspects of the guidance provided by the Maltese Sanctions Monitoring Board and European Commission in relation to a recently introduced…
Zachary Galea and Edmond Zammit Laferla
23rd May 2024
Mamo TCV Advocates: EU flag
European Parliament Formally Endorses New AML Package Corporate and M&A

European Parliament Formally Endorses New AML Package

As of the 24th April 2024, the European Parliament formally endorsed the upcoming Anti-Money Laundering (‘AML’) Package. This package is anticipated to standardise AML rules across the European Union ('EU'), taking into consideration various potential loopholes which could be utilised by criminals to launder funds. This new package is anticipated to also improve the way national systems within Member States are organised and to promote cooperation between them to tackle money laundering and terrorist financing. This new package will transfer all rules applicable to the private sector to a new Council Regulation (‘AML Regulation’), with the AML Directive (Directive EU…
Zachary Galea
8th May 2024