A Section 37 injunction allows creditors, in circumstances which give rise to a maritime claim attracting the jurisdiction of the Maltese courts in rem, to obtain a court order which prohibits the vessel from being sold or entering any further mortgages until the merits of the case have been decided in the appropriate jurisdiction. This has proven to be a useful and effective tool for protecting maritime claims.
Malta recently implemented the amendments to the Maritime Labour Convention 2006 into domestic law. As one of the largest ship registries in the world, these changes will have a significant impact on the world's shipping workforce. The new amendments can be divided into two parts introduced in the form of standards: one on seafarers' employment agreements and one on wages. A third amendment, which refers to specific entitlements, was introduced in the form of a guideline.
COVID-19 lockdown measures have significantly disrupted cruise ship operations and the financing arrangements in place between financiers and cruise liner companies. Anxious to maintain the good standing of cruise liner companies during the suspension of operations, financiers have been quick to offer debt restructuring solutions to borrowers to fill the liquidity void. At the local level, the most common refinancing exercise involving Malta-flagged vessels is the renegotiation of debt holidays.
Malta has always been at the forefront of offering solid, reliable solutions to yacht owners depending on their individual requirements and the intended use of their yacht. The first half of 2020 has seen the introduction of updated rules affecting operating leases and streamlined importation procedures, offering owners the possibility of availing themselves of a number of solutions and procedures catering to their individual requirements.
Transport Malta's Ports and Yachting Directorate recently issued a port notice to remind recipients about the Dispute Resolution (Procedures) Regulation. The regulation applies to bunkering operations where a dispute has arisen between the bunkering fuel operator and provider and the receiving vessel. The procedure provides for an alternative dispute resolution mechanism that aims to be swift, economical, transparent and simple.