Does A Going Concern Constitute Adequate Security?
Any lending of funds needs to be adequately secured. This is a practice which every lender knows and should observe in order to adequately protect his credit. However, the meaning of "adequate security" is not straight forward and lenders must be careful when selecting their preferred security .This issue came to the fore in Malta in the judicial sale by auction initiated in year 2018 in the names Neofarma Pharmaceuticals Ltd. Vs Cauchi Gera et (Court Ref. No. 9/2018), by which The creditor company demanded the sale of a pharmacy licence. This meant that the immovable property where the pharmacy…
Kevin Cutajar12th November 2018