In the case Kenneth Xuereb v. Weber Construction Limited, decided on the 18 of March, 2021, the Civil Court (Commercial Section) (the Court) presided over by Hon. Judge Joseph Zammit McKeon, considered at length the two tests of insolvency arising in terms of the Maltese Companies Act, with particular reference to its English law equivalents.
In 2018, plaintiff Xuereb, a shareholder and director of the defendant company, instituted action in terms of Article 218(1) of the Companies Act (Chapter 386 of the laws of Malta) (the Companies Act) requesting the Court to place the said company in liquidation on account of the fact that the said company was unable to pay its debts. Xuereb contented that at the date of the filing, the company ha…
Read the full article at: https://www.independent.com.mt/articles/2021-03-24/business-news/Understanding-the-test-of-corporate-insolvency-under-the-Companies-Act-6736232015
