Online tool now helps creditors identify those facing insolvency

The Courts of Justice, in partnership with the Registrar of Companies, has acquired an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal.
This electronic register aims to provide information to the public about entities and traders that are facing insolvency and provides information that is relevant to creditors such as the case reference, date registered, court name, termination date, type of proceedings, article, insolvency practitioner, time limit for lodging a claim, court of appeal and time limit for appeal.
EU Insolvency Regulation 2015/848 states that "member states shall establish and maintain in their territory one or several registers in which information concerning insolvency proceedings is published ('"insolvency registers'). That information shall be published as soon as possible after the opening of such proceedings."This register interfaces with two different insolvency registers. One of the insolvency registers is maintained by the Registrar of Companies, who receives information from companies registered in Malta which, upon their dissolution, are in an insolvent situation, as...

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