Information to be Included in Credit Agreements – ECJ’s Preliminary Ruling

Authors: Julienne Bencini
Published on January 7, 2020
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Practices: Litigation, Arbitration & ADR, Banking Regulatory, Secured Financing
On the 19th of December 2019 (C290-19), the European Court of Justice (ECJ or the Court) gave its interpretation by virtue of a preliminary ruling on the interpretation of Article 10 of Directive 2008/48/EC (on credit agreements for consumers) (the ‘Directive’).

What are green bonds and how can they save the world?

Authors: Beppe Degiorgio
Published on December 17, 2019
Practices: Capital Markets
As we increasingly face the catastrophic consequences of climate change, we must collectively take the bull by the horns and tackle the problem from every angle possible.  If we are to preserve our planet for future generations, every person must play his part, no matter how small or insignificant that part may be; the sum total of our concerted efforts is great and the cost of doing nothing at all is unquantifiable.  The various stakeholders in the financial markets are no exception, and it is reassuring to note that the markets have already started offering solutions. One solution (among the many which are slowly coming to the fore) is the move to sustainable finance, where investment decision-making is based on environmental and social considerations.

Mind your IBANS, says CJEU

Authors: James Debono
Published on December 5, 2019
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Practices: Banking Regulatory
At the end of March this year, the European Court of Justice (CJEU or the Court) explained the principles behind Articles 74 and 75 of Directive 2007/64 (Payment Services Directive or PSDI) which provisions relate to payment orders effected by means of a bank transfer following the input of the incorrect unique identifier (such as an international bank account number or IBAN) by the payer. PSDI defines a ‘unique identifier’ as a combination of letters, numbers or symbols specified to the payment service user by the payment service provider and to be provided by the payment service user to identify unambiguously the other payment service user and/or his payment account for a payment transaction.

Shipping & Maritime Law Newsletter – Issue No. 28 (October 2019)

Authors: Jotham Scerri-Diacono, Jan Rossi, Saman Bugeja, Ilias Theocharis, Marcus Rizzo Naudi, Rachel Genovese, Matthew Attard
Published on November 18, 2019
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Practices: Ship Finance & Mortgages, Ship Registration, Shipping Compliance, Shipping sale, purchase & charterparties, Admiralty & Maritime Litigation, Yacht & Superyacht Registration
Issue no. 28 of the Shipping & Maritime Law Newsletter is now available.

Principles of Maltese Company Law (2nd. Ed.) by Prof. Andrew Muscat

Authors: Conrad Portanier
Published on November 11, 2019
Practices: Corporate, Corporate Recovery & Insolvency
Book Review

This review was co-authored with Ivan Vella

Companies are nothing but the product of a legal fiction, in that they only possess the ability to do business and enter into contractual arrangements because the law grants them the ‘personality’ to do so.  Unlike human beings, companies are not persons in the physical sense of the word. 

Corporate Considerations Relating to Joint Ventures in Malta

Authors: Annalise Papa
Published on November 11, 2019
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Practices: Corporate
By far the most commonly, though not exclusively, used vehicle for setting up and operating a corporate joint venture (JV) in Malta is the private limited liability company. If the joint venture parties are crystal clear on how they wish to collaborate and on the manner in which power will be wielded among them, the joint venture may be set up relatively quickly but should by no means be a rushed or thoughtless exercise. The detailed elements regulating the joint venture are commonly fleshed out in a joint venture or shareholders’ agreement (JVA). Oftentimes, the joint venture parties are keen on keeping the operational and commercial details of the venture private which is why it is useful that in terms of the Maltese Companies Act it is only certain key elements of the structure that must mandatorily be replicated into the company’s memorandum and articles of association (M&A) which enter the public domain.