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Exercise of power to stay proceedings under Article 220 of the Companies Act Legal Updates

Exercise of power to stay proceedings under Article 220 of the Companies Act

In its recent decision HSBC Bank Malta Plc v The Golden Shepherd Group Limited, (decided 4th October, 2018) the Civil Court (Commercial Section) exercised its special powers under Article 220 of the Companies Act to stay proceedings pending against the defendant company ("Golden Shepherd"). Golden Shepherd is currently the defendant in on-going dissolution and winding up proceedings instituted by HSBC Bank Malta Plc ("HSBC"). Article 220 allows a company, a creditor or a contributory of that company from applying to the court, at any time after the filing of a winding up application, requesting a stay of judicial proceedings pending against…
MamoTCV Advocates
17th October 2018
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Proposal to Reform the Rental Market Real Estate & Construction

Proposal to Reform the Rental Market

This article was written by Dorita Cardona and Joshua Chircop.The Parliamentary Secretariat for Social Accommodation has published a White Paper proposing the setting up of a new regulatory framework (the 'Regulatory Framework') to reform the residential rental market in Malta, referred to as the private rented sector (the 'PRS').RationaleThe White Paper proposes providing both Landlords and Tenants with greater stability, flexibility, security, transparency and predictability in the long-term. There is a clear emphasis on creating a balance between Landlords and Tenants. The White Paper seeks:1. to protect the fundamental rights of Landlords, especially their rights to property, to contractual freedom…
Dorita Cardona
17th October 2018
pexels-photo-259950.jpeg
Proposal to Reform the Rental Market Real Estate & Construction

Proposal to Reform the Rental Market

This article was written by Dorita Cardona and Joshua Chircop.The Parliamentary Secretariat for Social Accommodation has published a White Paper proposing the setting up of a new regulatory framework (the 'Regulatory Framework') to reform the residential rental market in Malta, referred to as the private rented sector (the 'PRS').RationaleThe White Paper proposes providing both Landlords and Tenants with greater stability, flexibility, security, transparency and predictability in the long-term. There is a clear emphasis on creating a balance between Landlords and Tenants. The White Paper seeks:1. to protect the fundamental rights of Landlords, especially their rights to property, to contractual freedom…
Dorita Cardona
17th October 2018
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Post-Brexit: Establishing a Higher Educational Institution in Malta Corporate and M&ATrusts, Foundations and Wealth Management

Post-Brexit: Establishing a Higher Educational Institution in Malta

 This article was written by Dr.Edmond Zammit Laferla, Dr.Dorita Cardona and Dr.Joshua Chircop.Following the decision of UK voters to exit from the European Union in 2016, several international schools and universities have been expressing interest in establishing higher educational institutions in Malta.Why Malta?The market for higher educational institutions in Malta has increased exponentially in recent years. The number of licensed entities is growing steadily. Malta is an EU member state and as such benefits from direct access to the EU single market. This means that higher educational institutions that establish themselves in Malta will be able to passport into the…
Edmond Zammit Laferla
12th October 2018
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Post-Brexit: Establishing a Higher Educational Institution in Malta Corporate and M&ATrusts, Foundations and Wealth Management

Post-Brexit: Establishing a Higher Educational Institution in Malta

 This article was written by Dr.Edmond Zammit Laferla, Dr.Dorita Cardona and Dr.Joshua Chircop.Following the decision of UK voters to exit from the European Union in 2016, several international schools and universities have been expressing interest in establishing higher educational institutions in Malta.Why Malta?The market for higher educational institutions in Malta has increased exponentially in recent years. The number of licensed entities is growing steadily. Malta is an EU member state and as such benefits from direct access to the EU single market. This means that higher educational institutions that establish themselves in Malta will be able to passport into the…
Edmond Zammit Laferla
12th October 2018
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Extension for Reduced Rate of Stamp Duty on the Transfer of a Family Business Corporate and M&A

Extension for Reduced Rate of Stamp Duty on the Transfer of a Family Business

The reduced rate of stamp duty applicable to the transfer of shares in a family business from 2% to 1.5% has been extended further until 31st December 2018, in accordance with Legal Notice 320 of 2018 entitled Duty on Donations of Marketable Securities and Immovable Property Used for Business (Exemption) (Amendment No.2) Order, 2018 which was announced on 9 October 2018.The reduction in stamp duty applies in relation to:the transfer of shares in a Maltese registered company and includes the transfer by means of donation by qualifying family members, which is defined as being a donation to one's spouse or…
Ian Busuttil
12th October 2018