Just before going into summer recess Maltese Parliament held the
first reading of three Acts which, once adopted, are bound to start
changing the Maltese insolvency law landscape. These Acts will be
amending the Commercial Code and will be introducing a new
Insolvency Practitioners Act and a Pre-Restructuring Act.
The texts of these proposed laws are yet to be made public,
however one can surmise that the main aim of these new laws will be
that of implementing Directive (EU) 2019/1023 of the European
Parliament and of the Council 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 (the
"EU Restructuring Directive"). The Malta
Business Registry has also stated that other aims of the proposed
reform include that of considering reports by the World Bank
Consultancy Service on the Maltese insolvency framework and the
World
