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MBR Penalties successfully challenged before the Civil Court
Successful Challenge to Administrative Penalties Imposed by the Registry of Companies Corporate and M&A

Successful Challenge to Administrative Penalties Imposed by the Registry of Companies

In its judgement delivered on 14th June 2023 in the names of Marco Aquilina & Euro Concrete Blocks Limited vs. Ir-Registratur tal-Kumpaniji, the Civil Court (Commerce Section), presided over by Mr. Justice Ian Spiteri Bailey,  decided in favour of the plaintiffs, who successfully challenged the payment and settlement of various alleged administrative penalties imposed by the Registrar of Companies.  The Registrar of Companies has recently filed an appeal to the judgement delivered by the Civil Court (Commerce Section). The pertinent facts of the case are as follows. Background By means of a judicial letter dated 20th January 2022, the plaintiffs…
Andrea Theuma and Gabrielle Bezzina
18th August 2023
The Representative Actions Act,
a Brief Overview Litigation & Dispute Resolution

The Representative Actions Act,
a Brief Overview

The Maltese law transposing European Union Directive on representative actions for the protection of the collective interests of consumers, Directive (EU) 2020/1828 of the 25th of November 2020, came into force by means of Act XVII of 2023 on the 25th of June 2023 (hereinafter referred to as the “Representative Actions Act” or the “Act”).  This Directive is intended to serve as a model for representative actions on behalf of European consumers in situations wherein their interests are collectively harmed. In Malta, although class actions are already provided for in terms of the Collective Proceedings Act (Chapter 520 of the…
Paula Briffa and Christine Calleja
16th August 2023
Legal Update
Corporate Legal Update for the Month of July 2023 Corporate and M&ALegal Updates

Corporate Legal Update for the Month of July 2023

The MFSA published a Circular on the 13th  of July 2023 regarding a Public Statement issued by the European Securities and Markets Authority (hereinafter referred to as “ESMA”) outlining sustainability disclosure expectations in prospectuses. This was addressed to issuers and their advisory teams in the process of drawing up prospectuses. The statement aims to coordinate national authorities' review of sustainability disclosures in prospectuses, inform issuers and advisors about expected disclosures and enhance investor decisions by emphasizing sustainability-related disclosures. On the 14th of July 2023, the Crowdfunding Service Provider Act (Act No. XXV of 2023) was enacted. The purpose of this act…
Mamo TCV Advocates
16th August 2023
Mamo TCV Partner Successfully Elected to the Council of the Malta Chamber of Advocates News

Mamo TCV Partner Successfully Elected to the Council of the Malta Chamber of Advocates

Partner Dr Christine Calleja secured her position on the Council of the Malta Chamber of Advocates in the election held earlier this week. The Council's responsibility involves the management and operation of the chamber over the forthcoming three-year period, extending until 2026. The Malta Chamber of Advocates functions as the official body representing warranted advocates who have been admitted to practice at the Bar of Malta. Legally acknowledged, it serves as the consultative and participatory representative for advocates concerning matters connected to the organisation and administration of justice. Beyond this role, the Chamber serves as a professional association, a lobbyist,…
Mamo TCV Advocates
10th August 2023
In this fintech insight, we provide a juxtaposition of Centralised Finance (CeFi) and Decentralised Finance (DeFi) to analyse how these two divergent notions can co-exist in the Fintech Law space.
Fintech Insights #4 –
CeFi and DeFi’s Coexistence Banking & FinanceFinTech

Fintech Insights #4 –
CeFi and DeFi’s Coexistence

The initial proponents of Decentralised Finance (“DeFi”) opined that DeFi, as opposed to Centralised Finance (“CeFi”), could innovate the financial system by providing easier methods of payments and other financial services. The reasoning was based on the notion that transactions without a centralised intermediary in the financial system entail a simpler economy with less regulatory burdens. In fact, the laws governing finance in Western countries (irrespective of their Common Law or Civilian Law traditions) are largely based on CeFi principles. In May 2023, the European Systemic Risk Board (“ESRB”), an EU body under the European System of Financial Supervision, provided…
Mario Mizzi
4th August 2023