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ARTICLE · 17 JUNE 2020

Company Reconstructions Fund Regulations Published

KPMG Malta
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New Regulations are aimed at creating/regulating the administration of a Fund facilitating company recovery procedures in terms of the Companies Act.

MaltaCorporate/Commercial Law
KPMG Malta
KPMG Malta
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New Regulations are aimed at creating/regulating the administration of a Fund facilitating company recovery procedures in terms of the Companies Act.

Further to the earlier indication given by the Ministry of Finance and Financial Services of a change in the insolvency laws, new Regulations have been published on 12 May, entitled Companies Act (Company Reconstructions Fund) Regulations. Their aim is of creating and regulating the administration of a fund intended  to  facilitate company recovery procedures instituted in accordance with article 329B of the Companies Act. The Company Recovery Procedure (CRP) is a procedure that has been in place for some years, aimed at helping companies recover from temporary financial predicaments whilst at the same time safeguarding the interests of all their stakeholders. The CRP is regulated by the Court and applies, upon application by the company, the directors or the creditors of a company, when the Court is satisfied that

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