Malta's New Code of Ethics for Insolvency Practitioners

The recent publication of the Code of Ethics and Professional Conduct for Insolvency Practitioners by the Insolvency and Receivership Service within the Malta Business Registry marks an important milestone in the continued strengthening of Malta's insolvency framework. More than a regulatory update, the Code represents a clear statement of intent: insolvency practice in Malta must be carried out with integrity, accountability, and the highest professional standards. 

In a field where decisions can have far-reaching consequences for businesses, creditors, employees, and the wider economy, the introduction of a formal ethical framework is both timely and necessary. 

Purpose and Scope of the Code

As outlined by the Malta Business Registry, the Code has been introduced to regulate the professional conduct of authorised Insolvency Practitioners and to ensure that the profession operates in a manner that safeguards public trust. It applies to all insolvency practitioners authorised under Maltese law and is designed to complement existing legislative and regulatory obligations.

The overarching objective is clear: to promote a culture of ethical behaviour, professionalism, and responsibility in all insolvency-related engagements. 

Key Ethical Principles

The Code establishes a set of core principles that insolvency practitioners are expected to uphold throughout the performance of their duties. These include:

Collectively, these principles aim to ensure that insovlency processes are conducted transparently, fairly, and with due regard to all stakeholders involved. 

Strengthening Confidence in the Insolvency Framework

The introduction of the Code is an important step in reinforcing confidence in Malta's insolvency regime. By setting out clear expectations for conduct and accountability, the Insolvency and Receivership Service is helping to ensure consistency in practice and to mitigate the risk of misconduct or abuse. 

Ultimately, this framework benefits not only creditors and debtors, but also the wider business community, by promoting trust in insolvency proceedings as a legitimate and well-regulated mechanism for dealing with financial distress.

What This Means for Businesses and Stakeholders

For companies and individuals navigating insolvency or restructuring scenarios, the Code provides reassurance that authorised practitioners are subject to defined ethical standards and oversight. It also places a renewed emphasis on the importance of choosing advisors who combine technical expertise with a strong commitment to ethical conduct. 

Grant Thornton Malta: Your Trusted Expertise in Insolvency and Restructuring

Against this evolving regulatory backdrop, professional judgement, experience, and ethical awareness have never been more important. At Grant Thornton Malta, insolvency and restructuring services are supported by authorised Insolvency Practitioners, offering clients depth, continuity, and hands-on expertise throughout the insolvency process.

Wayne Pisani, Michael Agius, and Anne Marie Degabriele collectively bring extensive experience across corporate advisory, restructuring, regulatory and financial matters. This breadth of expertise allows Grant Thornton to assist clients in navigating complex and often sensitive insolvency situations with clarity, independence, and a strong sense of professional responsibility.

By combining technical competence with a clear understanding of the ethical standards now formally embedded within the profession, Grant Thornton is well placed to support businesses, creditors, and stakeholders through insolvency and restructuring engagements in a manner that is both practical and aligned with the principles set out in the newly issued Code.