Following a Court application filed by Skillpro Malta
Ltd (the "Company"), on the
26th February 2025 the Civil Court Commercial
Section (the "Court") acceded to the
Company's request to enter the preventative restructuring
procedure as set out in the Pre-Insolvency Act (Chapter 631 of the
laws of Malta, and hereinafter referred to as the
"Act"). This not only marked Malta's
first application by a legal entity for the newly enacted
preventative restructuring procedure, but also the first successful
application, with the Court approving the proposed restructuring
plan by means of a decree given on the 21st May
2025.
Background to pre-insolvency proceedings in Malta
Directive (EU) 2019/1023 of the European Parliament and of the
Council of 20 June 2019 on preventive restructuring frameworks, on
discharge of debt and disqualifications, and on measures to
increase the efficiency of procedures concerning restructuring,
insolvency and discharge of debt, and amending
