A judicial liquidation is aimed at protecting creditors and is done by a collective procedure. This was held in a judgment given by Mr Justice Ian Spiteri Bailey in Dr Michael Psaila noe vs X before the Civil Court in its commercial jurisdiction.
Dr Psaila was representing a BVI company, Mediterranean Overseas Holding Limited and Corinthia (Malta) Staff Services Limited. The judgment was delivered on 3 January 2025.
The request was being made by Kevin Camilleri, who asked the court to continue with an action he had instituted against the liquidator of Azure Services Limited in terms of Article 224(2) of the Companies Act.
The Official Receiver objected to this since, he held that this discretion…
