One simply cannot escape companies. It would take a bold lawyer to ignore company law because most business in Malta is carried out by the 120,000 companies registered here. The Malta Law Academy, the academic arm of the Chamber of Advocates, recently held its annual company law conference, as usual a very well-attended event. Once again it was held in the wonderful ambience of the Valletta Campus.
For more than twenty years, MLA board member, Dr David Fabri, has been taking the lead in organizing this annual event. This year’s theme was “Maltese Company Law – New Perspectives, New Laws, New Challenges”, which reflected the various changes and novel compliance and other challenges that corporate lawyers and officials have to face, as well as the fact that all the speakers were new to the conference. All members of the legal profession, the speakers hailed from different professional backgrounds and were well-placed to deliver competent talks on their areas of expertise
In the first part, the audience heard the traditional opening policy speech from the President of the Chamber of Advocates, Dr Peter Fenech, and a welcome address from Judge Dr Ian Spiteri Bailey who currently heads the commercial section of the Civil Court. Dr Fabri himself addressed the various changes and developments in the corporate world in Malta and overseas since the last conference held in November 2022, which had focussed largely on dissolution and insolvency issues. Questions were asked whether compliance obligations have gone too far and whether as a result company law was losing its original mission and focus.
In the second part, Dr Ingrid Hamilton, the Official Receiver, spoke on the recently adopted insolvency laws, while Dr Alessia Carbone described the new requirements resulting from international sanctions which in Malta are administered by the Sanctions Monitoring Board, of which she forms part. Dr Stephen Attard gave his detailed views on reforms he would like to see to the Companies Act, Dr Antoine Naudi analyzed a very recent and interesting wrongful trading case, while Dr Patrick Buhagiar delivered a talk on the new challenges and opportunities of AI in the context of companies. Dr Gabriella Bray, the APS plc company secretary, addressed the increasing compliance obligations and risks being faced by company secretaries.
The Companies Act came into force on the 1st January 1995; that is 28 years ago. It should be no surprise that during this time a number of areas have been identified for improvement and reform. New court decisions which help to further develop company law principles too deserve to be noted and analysed. Preparations are already underway for the next annual conference scheduled for November 2024.
READ THE SEVENTH EDITION OF THE CORPORATE TIMES:
