A new Commercial section of the Civil Court will enter into force on 9th April 2018. This is being done in agreement with the judiciary, and after due approval by Parliament.
Minister for Justice, Culture and Local Government Owen Bonnici stressed the importance of this Court. "This Government is committed to increase the efficiency and quality of the Maltese Courts. Undeniably, the setting up of a section tasked with Company Law matter clearly crystallises the said commitment in that it provides a more specialised and accessible judicial service to citizens running a business as well as companies in commercial disputes," he stressed.
Minister Bonnici further argued that, "this augurs extremely well with the various judicial reforms which this Government is principally implementing to revitalise the justice sector, with the purpose of ensuring that our country's citizens benefit from a stronger judiciary."
Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri said that establishing the Commercial Court will strengthen Malta's competitiveness. While reflecting the seriousness in the way the Maltese jurisdiction operates, it will decrease bureaucratic procedures for companies and makes Malta a natural choice for investors.
"It will create greater confidence in the commercial community in view that Malta is about to explore and develop new market, including the digital and financial technology sectors," said Schembri. He added that the establishment of the Commercial Court shows Government's commitment to address the needs of the industry.
Notwithstanding that, domestically, the Commercial Court - albeit with a different jurisdiction - had previously existed, its absence in recent years raised concerns amongst several bodies and international credit agencies, since in contemporary times having a Commercial Court is the norm and not the exception.
It is precisely this sentiment that spurred Government to act and establish a new Commercial division, a court which will now be competent to hear and adjudicate cases relating to matters governed by the Companies Act, such as bankruptcy, insolvency proceedings, and winding-up proceedings.
The need for this Court was already being felt from within the Courts' structures, as in practice there were already informal arrangements for the formation of the Commercial Court. The establishment of this Court is aimed at addressing better the various issues which citizens involved in business structures encounter on a commercial level.
Furthermore, by virtue of a second Legal Notice, there will be the implementation of a system which allows for the possibility of filing an online application in the Commercial division via the ecourts.gov.mt website. Consequently, this will guarantee a more convenient and efficient service to all parties concerned.
Source: PRESS RELEASE BY THE MINISTRY FOR JUSTICE, CULTURE AND LOCAL GOVERNMENT AND THE PARLIAMENTARY SECRETARIAT FOR FINANCIAL SERVICES, DIGITAL ECONOMY AND INNOVATION
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