The Insolvency and Receivership Service within the Malta Business Registry has just published the Code of Ethics and Professional Conduct for Insolvency Practitioners. This Code defines the requirements of professional conduct for insolvency practitioners, with the purpose of safeguarding the standing of their profession, continuously updating it and to create a uniform set of rules of conduct, setting out their duties and obligations to meet the ethical standards expected of them. At the same time, this Code aims to ensure the quality and transparency of the services provided by insolvency practitioners, to guarantee proper performance of the work undertaken by them and moreover to best serve the interests of the creditors and the debtor client.
The Code applies to authorised insolvency practitioners, ensuring that they do not act abusively or negligently, while upholding the dignity of their profession and the trust conferred on them.
Minister for the Economy, Enterprise and Strategic Projects, Silvio Schembri, stated: “With this Code, we are ensuring that insolvency proceedings are not only effective but fully open and accountable. We are showing that Malta is a serious jurisdiction where the rules are clear, protecting the interests of everyone involved and reinforcing confidence in our business framework.”
Dr Ingrid Hamilton, Official Receiver and Head of the Insolvency and Receivership Service said that “the publication of this Code marks an important step in strengthening the integrity, transparency and professionalism of the insolvency framework in Malta. It establishes a clear and uniform set of ethical standards and obligations, ensuring that authorised practitioners carry out their duties with the highest level of competence, accountability and independence. By safeguarding the dignity of the profession and promoting proper conduct, the Code reinforces public trust while ensuring that the interests of creditors and debtors alike are served fairly and responsibly.”
Referring to the MBR’s accreditation course for insolvency practitioners, now running in its second term, Dr Geraldine Spiteri Lucas, Registrar and Chief Executive Officer of the MBR, said that “this comprehensive course convened by the Insolvency and Receivership Service in collaboration with leading academics represents a crucial step in strengthening Malta’s insolvency framework, offering practitioners in-depth legal knowledge, practical training and formal accreditation under the new legislative regime. It opens an innovative niche within the profession and equips practitioners with essential guidance to distressed businesses, supports timely debt recovery and ultimately helps enterprises and individuals secure a meaningful second chance.”
The Code of Ethics and Professional Conduct for Insolvency Practitioners is available as a printed copy and may also be downloaded here.
Kodiċi ta’ Etika u Kondotta Professjonali għall-Prattikanti tal-Insolvenza
Is-Servizz tal-Insolvenza u tar-Riċevitur fi ħdan ir-Reġistru tan-Negozju ta’ Malta (MBR) għadu kif ippubblika l-Kodiċi ta’ Etika u Kondotta Professjonali għall-Prattikanti tal-Insolvenza. Dan il-Kodiċi jiddefinixxi r-rekwiżiti tal-kondotta professjonali għall-prattikanti tal-insolvenza, bil-għan li jissalvagwardja l-professjoni tagħhom, jaġġornaha kontinwament u joħloq sett ta’ regoli dwar il-kondotta tagħhom li jistabbilixxi d-dmirijiet u l-obbligi tagħhom biex jissodisfaw l-istandards etiċi mistennija minnhom. Fl-istess ħin, dan il-Kodiċi għandu l-għan li jiżgura l-kwalità u t-trasparenza tas-servizzi pprovduti mill-prattikanti tal-insolvenza, li jiggarantixxi t-twettiq xieraq tax-xogħol tagħhom u jservi bl-aħjar mod l-interessi tal-kredituri u tad-debitur.
Il-Kodiċi japplika għall-prattikanti tal-insolvenza awtorizzati, biex jiżgura li ma jaġixxux b’mod abbużiv jew negliġenti, filwaqt li jsostnu d-dinjità tal-professjoni tagħhom u l-fiduċja mogħtija lilhom.
Il-Ministru għall-Ekonomija, l-Intrapriża u Proġetti Strateġiċi, Silvio Schembri, qal li: ” B’dan il-Kodiċi, qed niżguraw li l-proċeduri ta’ insolvenza ma jkunux biss effettivi iżda wkoll miftuħa u responsabbli. Qed nuru li Malta hija ġurisdizzjoni serja fejn ir-regoli huma ċari, nipproteġu l-interessi ta’ kulħadd u nsaħħu l-fiduċja fil-qafas kummerċjali tagħna.”
Dr Ingrid Hamilton, Riċevitur Uffiċjali u Kap tas-Servizz tal-Insolvenza u tar-Riċevitur qalet li “l-pubblikazzjoni ta’ dan il-Kodiċi timmarka pass importanti fit-tisħiħ tal-integrità, it-trasparenza u l-professjonaliżmu tal-qafas tal-insolvenza f’Malta. Dan jistabbilixxi sett ċar u uniformi ta’ standards u obbligi etiċi, u jiżgura li l-prattikanti awtorizzati jwettqu dmirijiethom bl-ogħla livell ta’ kompetenza, responsabbiltà u indipendenza. Billi jissalvagwardja d-dinjità tal-professjoni u jippromwovi kondotta xierqa, il-Kodiċi jsaħħaħ il-fiduċja pubblika filwaqt li jiżgura li l-interessi tal-kredituri u d-debituri jintlaħqu b’mod ġust u responsabbli.”
B’riferenza għall-kors ta’ akkreditazzjoni tal-MBR għall-prattikanti tal-insolvenza, li issa jinsab fit-tieni terminu tiegħu, Dr Geraldine Spiteri Lucas, Reġistratur u Uffiċjal Kap Eżekuttiv tal-MBR, qalet li “dan il-kors komprensiv imtella’ mis-Servizz tal-Insolvenza u tar-Riċevitur f’kollaborazzjoni ma’ akkademiċi ewlenin jirrappreżenta pass kruċjali fit-tisħiħ tal-qafas tal-insolvenza ta’ Malta u joffri lill-prattikanti għarfien legali fil-fond, taħriġ prattiku u akkreditazzjoni formali taħt ir-reġim leġiżlattiv il-ġdid. Jiftaħ niċċa innovattiva fil-professjoni u jgħammar lill-prattikanti bi gwida essenzjali għan-negozji f’diffikultà, jappoġġja l-irkupru tad-dejn f’waqtu u fl-aħħar mill-aħħar jgħin lill-intrapriżi u lill-individwi jiksbu ċans ieħor sinifikanti.”
Il-Kodiċi ta’ Etika u Kondotta Professjonali għall-Prattikanti tal-Insolvenza huwa disponibbli bħala kopja stampata u jista’ jitniżżel ukoll minn hawn.