Malta’s New Commercial law speeds up Gaming Business Court proceedings
On Friday 23rd March, Justice Minister Owen Bonnici confirmed that new addition to the commercial law is in its final stages. This law will be in force on the 9th of April, even though it still requires support by the judiciary before it is passed through Parliament. The government sought the necessity to speed the company law court. Through this process, it will maintain efficient and high-quality courts.
In addition, the courts have been waiting for the changes in the Commercial law. Initially, the significance of the law was to address issues citizens involved in business structures encountered in the commercial industry. Moreover, through the Company’s Act, gaming businesses will obtain quicker court proceedings, in cases such as bankruptcy, insolvency proceedings, and winding-up proceedings. Hon. Silvio Schembri stated that by Commercial law, it will strengthen Malta’s competitiveness, thus reducing bureaucracy for companies.
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