By virtue of article 4(1) of the Controlled Companies (Procedure for Liquidation) Act, (Cap.383 of the Laws of Malta) the Controller of Satabank p.l.c had advised all creditors who may have had a claim upon the Controlled Asset (Satabank p.l.c.) to take note of the list published with the notice of the 19th of August 2022, showing the names of creditors and amounts recognized by the Controller as due to each of them.
Creditors whose names had been excluded from the said list, or who disputed the balance shown as being due to them, were allowed a three-month period within which to enter a claim before the Controller. Creditors were advised that failure to make a claim within the said period shall bar such creditor from bringing the claim forward after the expiry of the said period, and any such claim shall not be taken into account by the Controller in the liquidation and distribution scheme.
The Controller now notifies that the three month period mentioned above expired on the 20th of November 2022, and therefore any further claims are barred by law.
In terms of article 4(3), the Controller shall be publishing a comprehensive list of all claims that shall participate in the scheme of distribution. Interested parties are requested to access this website over the coming weeks to review the comprehensive list, which shall also be published in the Government Gazette as required by law.
In terms of article 4(4), any person having an interest in the liquidation or distribution scheme of a controlled asset may, within one month of the publication of this list, make objection to any claim recognized by the Controller or brought forward in terms of the said article 4.
Richard Galea Debono
Controller – Satabank p.l.c.