CJEU Clarifies Scope of “Amount Due” under Late Payments Directive
On 12 December 2024, the Court of Justice of the European Union (“CJEU”) delivered an important ruling in Case C‑725/23 in the name of M. sp. z o.o. I. S.K.A. v. R.W. The case arose from a request for a preliminary ruling by the District Court in Katowice-East, Katowice in Poland.
‘Buy Now, Pay Later’ Schemes Examined by the CJEU under the Consumer Credit Directive
On 17 October 2024, the Court of Justice of the European Union (the “CJEU”) delivered a ruling in the case of Riverty GmbH (legal successor of Arvato Finance BV) v MI (Case C-409/23), on the qualification of the so-called ‘buy-now-pay-later’ (“BNPL”) schemes, where consumers purchase goods or services and are able to postpone payment, in …
Guidelines on ESG risk management emphasize integration of ESG risks across the 3 lines of defence
On 9 January 2025, the European Banking Authority (the “EBA”) published its final report setting out the Guidelines on the management of Environmental, Social and Governance (ESG) risks (the “Guidelines”)[1].
Publication of the Insurance Recovery and Resolution Directive and Amendments to the Solvency II Directive
On the 8th January 2025, the directive establishing a framework for the recovery and resolution of insurance and reinsurance undertakings, better known as the Insurance Recovery and Resolution Directive or IRRD, and the amendments to the Solvency II Directive were officially adopted and published as law in the Official Journal of the European Union.
2024 Amendments to the Trusts and Trustees Act (Fees) Regulations
The Trusts and Trustees Act (Fees) (Amendment) Regulations 2024 (the “Regulations”), published on 24th December 2024 through Legal Notice 372 of 2024, have substituted the previous regulations last amended in 2015. They will be Subsidiary Legislation 331.01 under the Trusts and Trustees Act (Chapter 331 of The Laws of Malta) (the “Act”).
Is a handshake equivalent to a final agreement?
Introduction In the case Beer House Ltd (the “Claimant”) vs The General Soft Drinks Company Ltd (C3774) (the “Defendant”) & GSD Marketing Limited (called in as a joinder by means of a decree on the 4 January 2022) ( “GSDM”), the Hon.
Launch of Consultation Period on a new draft Rulebook for Trustees and Other Fiduciaries
On 5th December 2024, the MFSA launched a consultation period on a proposed new Rulebook for Trustees and other Fiduciaries (the “New Draft Rulebook”), ending on the 31st January 2025.
Non-Profit Companies: A Contradiction or a Practical Tool?
When one thinks of a company, trading activities and profit-making typically come to mind, with dividends eventually distributed to shareholders. The trading “purposes” of a company are in its Memorandum and Articles of Association and while the Companies Act allows companies to be established for any lawful purpose, it is unusual for a company’s purpose …
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Mergers and acquisitions: Are we in for a rebound?
The current reawakening of the M&A market follows a slumber experienced over the past few years. The recent announcement of Goldman Sachs’ proposed acquisition of a significant stake in Melita plc marks a pivotal moment for Malta’s corporate landscape.
MiCA Goes Live: A Milestone for Crypto Regulation
On 30 December 2024, the Markets in Crypto-Assets Regulation (MiCA) came into full force across the EU – ushering in a new chapter for the crypto-asset industry.