The Status of British Citizens Residing in Malta Pre-Brexit – The Post-Brexit “No Deal” Scenario

Authors: Adrian Camilleri
Published on July 4, 2019
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British citizens - who on and prior to the UK's EU withdrawal date were inter alia resident in Malta and able to maintain themselves - would be entitled to continue residing in Malta and enjoy the right of free movement into and from Malta, including other legal entitlements, such as the right to work, access to health, education, social benefits etc., subject of course to certain conditions. This legal status lasts 10 years, unless renewed. There is also a provision affecting UK individuals who benefit from the Residents Scheme Regulations (S.L.123.79) requiring a certain procedure for compliance.

AG Hogan sheds light on costs associated with early repayments under the Consumer Credit Directive

Authors: James Debono
Published on July 3, 2019
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Practices: Banking Regulatory
Advocate General Hogan delivered on 23 May 2019 his opinion in the proceedings of C‑383/18 Lexitor sp.z.o.o v Spółdzielcza Kasa Oszczędnościowo — Kredytowa im. Franciszka Stefczyka z siedzibą w Gdyni, Santander Consumer Bank S.A. z siedzibą we Wrocławiu, mBank S.A. z siedzibą w Warszawie.

Another Successful Private Sale of a Vessel in Malta by Court Approval

Authors: Jotham Scerri-Diacono
Published on June 27, 2019
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Practices: Admiralty & Maritime Litigation, Shipping sale, purchase & charterparties
Malta continues to attract vessels to its shores for court-approved sales. Following closely last year’s judicial sale of the 100 meter super yacht m.y. Indian Empress, the m.v. HHL Rio de Janeiro, a specialised heavy lift vessel, sailed into Maltese waters for her sale by private treaty. The sale was instigated by the enforcing mortgagee. Having considered the market value of the ship, the Court proceeded with its decision of the 29 May, 2019, in the proceedings in the names “J. Scerri-Diacono nomine versus m.v. HHL Rio de Janeiro”, to approve the sale.

Clock keeps ticking for Libor

Authors: Beppe Degiorgio
Published on June 5, 2019
Practices: Banking Regulatory
As I wrote in my article in the Times of Malta on 21 November 2017, the London Interbank Offered Rate, Libor, (which measures the cost of unsecured borrowing between banks for a specific period) is expected to be phased out by 2021 and given its widespread use, this is proving to be a gargantuan task.