We have helped various client companies undergo insolvency or winding-up proceedings. We have also given advice to companies and company directors on the most diligent and legal manner to manage a business when the decision has been taken that the company or group of companies will be wound-up and dissolved. This is important so that directors ascertain that their actions are fully compliant with the law and that they will not have any eventual problems relating to any claims of wrongful or fraudulent trading.
Under Maltese law a liquidator needs to be a Malta based Lawyer or Accountant. We have acted as liquidators, as well as assisted various liquidators in a number of liquidations. Our support will include the drafting of any necessary resolutions or statutory forms, support with the collection of any receivables due to the company, the ranking of creditors and settlement of their claims, and the distribution of any surplus assets or funds to the shareholders.
A Maltese company can be dissolved in a variety of ways. The Companies Act provides for either a voluntary or Court liquidations. Shareholders have the option to dissolve a company at any time, however, there are specific instances where a company is in default and hence liquidation may be ordered by the court.
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