On the 23rd of December 2022, Malta introduced Chapter 631 of the Laws of Malta entitled the Pre-Insolvency Act. The purpose of the Act is, amongst others, to introduce within Maltese legislation effective preventive restructuring frameworks which enable corporate structures and/or individuals engaged in trade who are facing financial difficulties to continue operating.

Matthew Cassar, Associate, shares certain features of the Pre-Insolvency Act and the interplay between the shipping industry, particularly in the realm of ship finance.