Government appeals NBM decision, says shares had no value
The government has lodged an appeal against court rulings instructing it to compensate shareholders of the now-defunct National Bank of Malta with a sum close to €111 million. Following the bank’s closure in 1973, the government established Bank of Valletta as a replacement. Earlier this month, the court mandated the compensation to shareholders, citing a violation of their fundamental rights due to the deprivation of their shares without recompense. In court filings submitted on Monday, the government argued that its intervention, which led to the establishment of a new bank to handle the National Bank’s operations, was necessary to prevent an economic catastrophe, safeguard depositors’ funds, and preserve jobs, stressing that at the time, the bank’s shares were worthless. (Maltatoday)
Restaurants abusing Covid permission – Valletta mayor
Restaurants that were granted permission to place tables and chairs outdoors as part of health measures during the pandemic are now seeking to retain this privilege, according to the mayor of Valletta. Alfred Zammit stated that the initial social distancing regulations, implemented during the tourism downturn in 2020, aimed to safeguard jobs during a crisis but are now being exploited. “We don’t want to stifle businesses. That would be counterproductive. However, there should be limits on what can be done,” Zammit remarked. The mayor’s comments come shortly after a demonstration in the city center protesting the excessive use of public space by the private sector. (Times of Malta)
IVF refund scheme extended – Health Ministry
The IVF medication refund has been extended for prospective parents undergoing IVF procedures in Malta, as well as those who underwent IUI, IVF, or embryo transfers in private clinics until January 1, 2023. The Health Ministry, quoting Minister Jo Etienne Abela, stated that the government is aware of the challenges faced by prospective parents undergoing IVF. Since 2015, free services have been offered at Mater Dei Hospital, with expansions through legislative changes in 2018 and 2022. By the end of March 2024, the Embryo Protection Authority approved a refund of €1,028,543 for prospective parents for the cost of medicines they had paid. (TVM)
