On the 15 October 2020, in the First Hall Civil Court judgement
Mr. Messaging Limited vs Nemea Bank plc presided over by Hon. Judge
Anna Felice, , the Court delved into the applicability of the
special summary proceedings contemplated under Articles 167 to 170
of the Code of Organisation and Civil Procedure, Chapter 12 of the
laws of Malta (COCP) in light of regulatory sanctions and
restrictions imposed on a local credit institution.
By way of background, the plaintiff company had money deposited
in a current account opened with the defendant bank, which bank was
then made subject to sanctions issued by the Malta Financial
Services Authority (MFSA) and the European Central Bank (ECB)
(through the Directorate General Micro-Prudential Supervision)as a
result of a number of serious regulatory shortcomings.
