Case law : Malta Banco di Napoli International S.A. v Malta Stone Company Limited

Abstract

The plaintiff, a creditor, sued for the dissolution and winding up of die defendant company. As a first step, the Civil Court upheld the plaintiff's request to appoint a provisional administrator under the terms of s 224 of the Companies Act 1995, pending consideration of the application for compulsory winding up. It ordered the provisional administrator (a certified public accountant and auditor) to submit to the Court within one month from his appointment a report on the assets and the activities of the company. This report established that the company had started a factory project but had then for two years failed to carry out any activity to complete the factory and the project appeared to have been abandoned.