Cell Companies in the Shipping and Aviation Industries

By virtue of Legal Notice 248 of 2020 the Minister for Economy, Investment and Small Businesses introduced the Companies Act (Shipping and Aviation Cell Companies) Regulations (the “Regulations”) with the aim of regulating cell companies carrying on or engaged in the shipping or aviation business. The enactment of the Regulations was made possible by means…

Malta: Fostering the Recent Exponential Growth of Esports

Published also in SIGMA  Over the past few years, esports, which is best described as organised and competitive video game playing, has witnessed immense growth transforming it into a central form of entertainment all over the world, with the industry amassing one billion US Dollars in revenue for the first time in 2019. The growth…

The Shipping Industry: Responding and Adapting to a New Reality

Published also in Times of Malta (Click to access the content) The shipping industry, within the limits of today’s situation, continues to operate and keep crucial supply chains flowing across the globe. Having said this, the outbreak of the Coronavirus (COVID-19) has seen a widespread negative impact on the industry’s operations. It has affected many…

COVID-19 hastens the setting up of a new Company Recovery Fund

As the economic impact of the coronavirus (COVID-19) starts being felt, with companies experiencing financial difficulties, new regulations establishing a fund designated as, the Company Recovery Fund, have been published on the 12th May 2020 by Legal Notice 192 of 2020.  The Company Recovery Fund (Fund) The Company Recovery Fund is a fund which is…

COVID-19: Introduction of Temporary Precautionary Measures through Port Notice No 10 of 2020

Port Notice 10 of 2020 entitled ‘COVID-19 Temporary Precautionary Measures – Framework of protocol for conducting maritime support services’ (the ‘Notice’) was published by the Ports and Yachting Directorate within Transport Malta (the ‘Directorate’) on the 26th May 2020. The Notice was published by the Directorate following consultations with the Port Health Office and has…

Five Years of Maltese Residency by Investment

In August 2015, the Maltese Government introduced changes to Chapter 217 of the Laws of Malta, permitting foreign investors to obtain a Permanent Residence permit in Malta. This is done by means of investing in government bonds under the Malta Residence and Visa Program (MRVP). This change in law gives Third-country nationals the opportunity to…

Protecting Consumer Rights During a Pandemic – An Unprecedented Challenge

Published also in Times of Malta (Click to access the content) Covid-19 has dramatically changed the world around us and in an effort to limit the spread of the virus and safeguard public health, several industries have been significantly disrupted. On a local level, organised events, including all cultural, recreational and entertainment events and exhibitions…

Re-opening of Courts’ Registry as from 4th May 2020

The registry of the Courts of Justice has re-opened as from today, Monday 4th May 2020, pursuant to legal notice 177 of 2020 which amends the Closure of the Courts of Justice Order. This effectively means that ALL court acts and judicial proceedings may from now onwards start to be filed again, irrespective of whether…

Contractual Obligations Amid a Pandemic – To What Extent Can a Default Be Excused?

The outbreak of the COVID-19 pandemic has by and large effected a wide spectrum of individuals and businesses who have been heavily impacted financially by an unprecedented and unexpected event to the extent that many are encountering difficulties in honouring obligations contracted in a pre-COVID19 world. To make matters worse, following the Superintendent of Public…

ECB provides temporary relief for capital requirements for market risk

The European Central Bank (ECB) announced (click to view the content) a temporary reduction in capital requirements for market risk, by allowing banks to adjust the supervisory component of these requirements. The measure aims to: Maintain banks’ ability to provide market liquidity and to continue market-making activities Temporarily reduce a supervisory measure for banks (the qualitative…