A new cohort of insolvency professionals has successfully completed the accredited Insolvency Course organised by the Malta Business Registry (MBR), marking an important milestone in strengthening the profession and enhancing expertise in the field. Following the successful completion of the programme, 13 professionals have graduated and are now eligible to be added to the Register of Insolvency Practitioners, expanding the pool of qualified specialists available to support individuals, businesses, and the wider financial and legal sectors.
The Minister for the Economy, Technology and Strategic Projects, Silvio Schembri, explained how the Government's goal has never been just to see the number of businesses in Malta increase, but to build a strong ecosystem that accompanies businesses at every stage of their journey.
"Strengthening the insolvency profession is another step towards continuing to give enterprises the tools and support needed to overcome their challenges and continue to create wealth for the country. Our work does not stop with the creation of new businesses. We must ensure that every business has the tools, professionals and support needed to recover, adapt and continue to grow. This is the economic model we are building for our country, one based on quality and competitiveness," said Minister Silvio Schembri.
The MBR's Chief Executive Officer and Registrar, Dr Geraldine Spiteri Lucas, remarked that the addition of 13 newly qualified Insolvency Practitioners will continue to strengthen the support available to businesses seeking professional restructuring assistance, with the possibility of preventing insolvency altogether. With this latest cohort, the number of registered Insolvency Practitioners in Malta has now increased to 26.
"The role of these professionals is to guide businesses through the steps required to restore financial stability and to get back on their feet. The course covered procedures relating to liquidity, sanctions under Malta's regulatory framework, the Insolvency Practitioners Act, directors' obligations, and preventive restructuring procedures. Moreover, this is a constantly evolving field that requires continuous research, and our collaboration with the University of Malta continues to bear fruit," said Dr Spiteri Lucas.
She remarked also that the insolvency overhaul implemented over recent years has been driven by a clear principle: that everyone deserves a second chance. "By strengthening Malta's insolvency and restructuring framework, we have fostered a culture that encourages individuals and businesses to take the necessary leap forward, knowing that there is a robust business ecosystem, supported by qualified professionals and effective legal tools, to help them recover, restructure and rebuild whenever possible," added Dr Spiteri Lucas.
One of the key pillars of this approach is the promotion of early warning mechanisms. Since the launch of the Self-Assessment Tool in late 2024, 81 users have completed the assessment, with 51 recording an insolvency risk exceeding 50 per cent. These figures demonstrate the value of the tool as an early indicator, encouraging timely action before financial difficulties become irreversible.
Dr Ingrid Hamilton, Official Receiver and Head of the Insolvency and Receivership Service, remarked that the work of the Official Receiver continues to reflect this commitment to improving the efficiency of insolvency administration. "During 2025, the Office successfully concluded 11 court- ordered winding-up cases. In 2026, we have already concluded a further 16 cases, many of which had been ongoing for several years. The work continues, with 24 new cases assigned last year and a further 13 companies already assigned this year. These results demonstrate our determination to reduce the long-standing backlog of cases, ensure insolvency proceedings are concluded more efficiently, and provide greater certainty for all stakeholders," said Dr Hamilton.
Additionally, these new insolvency practitioners were referred to the recently published Code of Ethics and Professional Conduct for Insolvency Practitioners by the MBR. The latter delves into 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.