The Company Recovery Procedure: an analysis of its past, present and future
News    ·   19-05-2021

AUTHOR: Donald Vella; Nicola Jaccarini

Donald Vella and Nicola Jaccarini have featured in the latest edition of Id-Dritt, a long-established peer reviewed law journal published by GhSL (Ghaqda Studenti tal-Ligi). Launched on the 19th May 2021, edition XXXI consists of two volumes and features an array of articles and commentaries written by Maltese legal practitioners, academics and previous members of the Maltese judiciary.

Donald Vella and Nicola Jaccarini co-authored an article on the Maltese company recovery procedure in which, against the backdrop of the COVID-19 pandemic, they analysed the past, present and future of this insolvency and pre-insolvency regime and whether this regime may be considered a viable alternative for companies in financial distress. The authors also refer to Directive (EU) 2019/1023 of the European Parliament and of the Council on preventive restructuring frameworks, on discharge of debt and disqualifications and on measures to increase the efficiency of procedures concerning restructuring, insolvency, and discharge of debt and which amends Directive 2017/1132 (the “EU Directive on Preventive Restructuring”), and the potential scope for change within the company recovery procedure and the wider Maltese pre-insolvency framework in light of this minimum harmonisation directive. The Maltese legislator is required to transpose the provisions of the EU Directive on Preventive Restructuring into national law by the 17th July 2021.

Should you wish to discuss any aspect of Malta’s insolvency or pre-insolvency regimes or the upcoming entry into force of the EU Directive on Preventive Restructuring, please do not hesitate to get in touch.

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