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ESAs issue joint supervisory statement on the application of the Regulation on Sustainability-related disclosures in the Financial Services Sector (SFDR) Banking & Finance

ESAs issue joint supervisory statement on the application of the Regulation on Sustainability-related disclosures in the Financial Services Sector (SFDR)

On 25 February, 2021 the triumvirate of European Supervisory Authorities, the EBA, EIOPA and ESMA (the "ESAs") published a joint statement on the effective and consistent application and national supervision of the Sustainable Finance Disclosure Regulation ("SFDR"). The joint statement is intended to help mitigate the risks of divergent application of the SFDR, and promote a level playing field to protect investors. In their joint statement, the ESAs recommend that during the interim period between 10th March, 2021 (the date upon which most of the provisions on sustainability-related disclosures laid down under the SFDR will apply) to the application date…
Simon Pullicino
1st March 2021
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Annual Leave Provisions in the Organisation of Working Time Regulations Amended Once Again Legal UpdatesNews

Annual Leave Provisions in the Organisation of Working Time Regulations Amended Once Again

Legal Notice 59 of 2021 has amended the annual leave provisions in the Organisation of Working Time Regulations (S.L. 452.87). With effect from the 1st of January 2021, the days of annual leave have been reduced from 27 days to 24 days but employees shall be entitled to an additional day of annual leave in respect of public or national holidays falling on a Saturday, Sunday or weekly day of rest. Disclaimer This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact info@mamotcv.com
MamoTCV Advocates
25th February 2021
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Chambers Global 2021 ranks Mamo TCV as a top-tier Maltese Law firm in General Business Law News

Chambers Global 2021 ranks Mamo TCV as a top-tier Maltese Law firm in General Business Law

Chambers Global recently published its 2021 and once again recognised Mamo TCV as one of the leading law firms in Malta. The firm was ranked as a Tier 1 Firm for "General Business Law" - which was the only practice area in which Maltese firms were ranked.Chambers described the firm as a "Stellar firm with an acclaimed corporate and dispute resolution practice regularly retained by local and international clients spanning the banking, pharmaceutical and real estate industries, as well as public sector clients. Strong capital markets department with a focus on securities issuances. Assists clients with corporate acquisitions and restructurings,…
MamoTCV Advocates
23rd February 2021
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Recognition of UK Insolvency Proceedings in Malta Post-Brexit Corporate and M&A

Recognition of UK Insolvency Proceedings in Malta Post-Brexit

Prior to 1st 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 31st December 2020, the EIR no longer applies to the UK. Consequently, insolvency proceedings opened in the UK after 31st December 2020 will not benefit from automatic recognition. The EIR applies a set of common rules in determining the jurisdiction to…
Simon Pullicino
22nd February 2021
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Ex-employee of the St John Co-Cathedral Foundation awarded €23,000 in damages for unfair dismissal Employment and Industrial Relations

Ex-employee of the St John Co-Cathedral Foundation awarded €23,000 in damages for unfair dismissal

An ex-employee of the St John's Co-Cathedral Foundation instituted proceedings before the Industrial Tribunal seeking compensation for unfair dismissal. The defendant Foundation argued that the ex-employee had committed several breaches throughout the years and that the final action of insubordination on his part had left the Foundation with no option other than to summarily dismiss him. The Tribunal commented that whilst the defendant had argued that the ex-employee had committed several abusive practices, its reaction towards such alleged abuses had always been lenient. A point worth mentioning is the fact that the disciplinary board which had been set up to…
Christine Calleja
19th February 2021
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Maltese Privatisation Unit Issues Request for Proposals for a Concession to Open and Operate a Casino in Malta Gaming & Betting

Maltese Privatisation Unit Issues Request for Proposals for a Concession to Open and Operate a Casino in Malta

The Malta Privatisation Unit issued a Request for Proposals on the 17th February 2021 pursuant to which it announced that it will be accepting bids from interested parties seeking to operate a land-based casino from one of Malta's designated tourist zones. The concession will be subject to a fee of €11,000,000 over three (3) years and the concessionaire (which would also be responsible to apply for, and obtain, a Casino Licence from the Malta Gaming Authority) will be required to operate a minimum of 225 gaming devices and 15 gaming tables.Under the applicable laws, the Malta Gaming Authority will only…
Andrea Theuma
19th February 2021