The European Commission launched its proposals for changes to insolvency law a few weeks ago, noting that Malta ranked last out of all the member states when it came to the efficiency of its procedures. The Finance Minister Edward Scicluna said the government had pre-empted the work of the Commission and decided to bolster the islands insolvency legislative framework.
What is Malta proposing as a timetable for these changes?
We have been working on the concept of introduction of a second chance and on the improvement of our insolvency legislation since late last year. During this year, a working group was set up to come up with a draft Bill to introduce amendments to the existing legislation. Following consultation with representa…
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