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November, 19 2018
November, 19 2018
Commercial Court To Be Established On 9th April
A new Commercial section of the Civil Court will enter into force on 9th April 2018. This is being done in agreement with the judiciary, following due approval by Parliament.
The establishment of this Court is aimed at addressing better the various issues which citizens involved in business structures encounter on a commercial level.
“Government is committed to increasing the efficiency and quality of the Maltese courts,” Minister for Justice, Culture and Local Government Owen Bonnici stated. “The setting up of a section tasked with company law matter provides a more specialised and accessible judicial service to citizens running a business as well as companies in commercial disputes.”
“This augurs extremely well with the various judicial reforms which this Government is principally implementing to revitalise the justice sector, with the purpose of ensuring that our country’s citizens benefit from a stronger judiciary.”
Parliamentary Secretary Silvio Schembri said that establishing the Commercial Court would strengthen Malta’s competitiveness by decreasing bureaucratic procedures for companies and making Malta a natural choice for investors.
“It will create greater confidence in the commercial community in view that Malta is about to explore and develop new market, including the digital and financial technology sectors,” said Mr Schembri.
The absence of a commercial court in Malta in recent years raised concerns amongst several bodies and international credit agencies. This newly re-established commercial division will be competent to hear and adjudicate cases relating to matters governed by the Companies Act, such as bankruptcy, insolvency proceedings, and winding-up proceedings.
Furthermore, by virtue of a second Legal Notice, there will be the implementation of a system which allows for the possibility of filing an online application in the Commercial division via the ecourts.gov.mt website. Consequently, this will guarantee a more convenient and efficient service to all parties concerned.