Going green: How Malta’s economy is embracing sustainability
Sustainability has been growing in importance within the financial sector, particularly over the past few years.
The non-disclosure of material facts in insurance contracts
In the recent case Malcolm Vassallo (the “Plaintiff”) vs. Citadel Insurance p.l.c (the “Defendant”) decided on the 1 March 2023,
One step closer to establishing a European Green Bond Standard
On the 1st of March 2023, EU lawmakers announced an agreement on the creation of a European Green Bond Standard (EuGB).
The inclusion of maritime shipping activities in the EU Emission Trading System Directive
The European Parliament and the Council of the European Union reached a provisional agreement on the 17th of December 2022, whereby they adopted the European Commission’s proposal to include maritime transport activities in the existing ‘Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance …
The non-disclosure of material facts in insurance contracts
In the recent case Malcolm Vassallo (the “Plaintiff”) vs. Citadel Insurance p.l.c (the “Defendant”) decided on the 1 March 2023, the Honourable Judge Lawrence Mintoff was requested to determine and examine what constitutes a “material fact” and the “non-disclosure of a material fact” when purchasing an insurance policy. The case was decided before the Court …
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EIOPA Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities
On the 3rd February 2023, the European Insurance and Occupational Pensions Authority (EIOPA) issued a Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities (“Supervisory Statement”). The EIOPA Supervisory Statement follows a public consultation which was launched by the European Authority on the 29th July 2022 relating to the use …
Creditors’ right to request the dissolution and winding up of a company in default
In its judgment on the 23 January 2023, the First Hall Civil Court (Commercial Section) (hereinafter the “Court”) presided by Mr. Justice Ian Spiteri Bailey delved into the salient features of a request made to the court for the dissolution and winding up of a company by a creditor or creditors of such company by …
Abuse of a dominant position: Attributability of distributors’ conduct to the supplier and exclusivity clauses in distribution contracts
On 19 January 2023, the Court of Justice of the European Union (the “CJEU”) delivered a ruling in the case of Unilever Italia Mkt. Operations Srl v Autorità Garante della Concorrenza e del Mercato (Case C-680/20) wherein it held that:
The regime for crypto-asset service providers under the Markets in Crypto-Assets Regulation
The Markets in Crypto-Assets Regulation (MiCA or the Regulation) will introduce the first European framework for crypto-assets. The regime covers three main types of crypto-assets, namely asset-referenced tokens (ARTs), e-money tokens (EMTs) and other crypto-assets (a catch-all category for tokens that are not ARTs or EMTs).
Revision of prices in Government Supply Contracts resulting from the war in Ukraine
The Department of Contracts (“DOC”) has published a second circular (the “Supply Guidelines”) which guides a contractor in filing a claim for compensation arising out of the Ukrainian conflict where the public contract in question has a supply element. It is important to note that the wording used by DOC’s Supply Guidelines is not limited to public …