Valletta Legal

Last week, Dr Anna Maria Zammit, Partner at Valletta Legal, had the privilege of participating in the Company Law Conference 2024 organized by the Malta Law Academy. During the event, Dr Zammit led an engaging Q&A session alongside Dr Geraldine Spiteri Lucas, Registrar and CEO of the Malta Business Registry - MBR The session provided a valuable platform for industry professionals to voice their concerns and seek clarifications directly from the registry. Dr Spiteri Lucas shared insights into the MBR’s ongoing initiatives, fostering transparency, progress, and enhanced collaboration with the sector. A big thank you to the Malta Law Academy for organizing such a crucial forum for dialogue and development in the field of company law.

We’re celebrating another graduate on the team 🍾 Congratulations Sarah Bugeja! 👏🏻 #teamVL #lawgraduate #milestone

📣 Looking forward to participating in the Malta Law Academy's conference next week, where I will be speaking with Dr Geraldine Spiteri Lucas, the Registrar and CEO of the Malta Business Registry - MBR ⬇️ ⏳ 💬

I'm delighted to share my recent election to The Hospital Saturday Fund Board as a Trustee for a term of three years. It's an honour to have the opportunity to contribute to the charitable sector and particularly this charity in what will surely be an extremely rewarding role. Thank you Paul Jackson and Association Members for your trust!

Some of our team keeping it pink for #pinkOctober 🩷 Thank you Erica for the initiative!

World Mental Health Day ❤️🩹 This year’s official theme is: “It’s time to prioritise mental health in the workplace.” It’s a day to reflect in a special way on the importance of kindness and self-compassion in our busy lives. We go through so many challenges individually and as a team and can only thrive at work (and in life) if we look out for each other. We’ve found that even little things can make a difference – happy plants, unexpected treats from colleagues, a compliment, fresh flowers, shared lunch breaks, a quiet moment to de-compress in a hectic day 🧘… The journey isn’t always easy, but it hopefully helps to know we’re not on it alone. #bekindtoyourmind #awareness #support

Our firm was proudly represented by Partners Dr Tanya Sciberras Camilleri and Dr Mark Bencini at the recent Lexlink Conference in London. 🌍⚖️ The conference highlighted the global importance of London as a jurisdiction, and we had the privilege of attending an insightful talk at Temple by a distinguished Barrister on the advantages of practicing law in this renowned city. A particular highlight was the opportunity to connect with industry leaders during the Gala Dinner. It was an honor to meet the outgoing Chairman Nils Petterson-Hagh and the incoming Chairperson Maristela Rossetti. The evening was filled with meaningful discussions and valuable networking with fellow professionals. We are grateful for the experience and look forward to future collaborations! #LexlinkConference #LegalNetworking #LondonEvents #LegalIndustry

Introducing our latest arrival! 🙌  Sarah Bugeja joined us hot on the heels of Andrew Sciberras departing to pursue his legal studies in Durham. She is currently reading for her Masters of Advocacy at the University of Malta. We are so happy to welcome her and confident she will be a great asset to our team! 👏 #welcome #teamVL #younglawyers #legalcareers

Who decides to close a registered company❓ The company’s shareholders (i.e. owners) resolve upon this course of action in a so-called “members’ voluntary winding up”, where the company is solvent, i.e. able to pay its debts. There are also instances specified in the Companies Act where the Court may order a company’s winding up.   What are the formalities❓ The Registrar of Companies must be notified within 14 days of the date of dissolution by means of the appropriate form (Form B (1)). The ‘Declaration of Solvency’ (Form B (2)) confirms the directors’ opinion that the company can pay its debts within 12 months from date of dissolution and is accompanied by a statement of its assets and liabilities. Furthermore, the shareholders must appoint a liquidator within 30 days of the date of dissolution. The Registrar is notified of this via another statutory form (Form L). In practice, the liquidator is usually appointed concurrently with the decision to dissolve.   What is the liquidator’s role❓ The liquidator essentially steps into the directors’ shoes and winds up the company’s affairs. They pay any debts and distribute the remaining assets to the shareholders.   What is the timeline❓ At the end of the process, the liquidation accounts, auditor’s report, and scheme of distribution are presented to the shareholders and subsequently submitted to the Registrar, who publishes a notice on the Registry’s website allowing a period of 3 months from the date of its publication within which creditors may raise objections. Thereafter, the company is struck off the register.   If the liquidator is unable to wind up within 12 months, they must submit a statement with respect to the pending winding up is (Form L (4)) to the Registrar outlining the position, and further such statements every 6 months until completion.

A very happy first work anniversary to our dear Manuela 🎉 We’re so glad to have you and hope to celebrate many more! #teamVL #workanniversary #congratulations #forzamilan