Filing late reply before Arbiter for Financial Services has consequences
The late submission of a reply before the Arbiter for Financial Services will not be considered as valid and the general procedural law applies
24 January 2021, 6:34am
by Malcolm Mifsud
The late submission of a reply before the Arbiter for Financial Services will not be considered as valid and the general procedural law applies.
This was held in a judgement delivered by the Court of Appeal on 20 January 2021 presided by Mr Justice Lawrence Mintoff in Michael Barbara vs. Bank of Valletta plc.
This appeal is from an award delivered by the Financial Services Arbiter, after Barbara lodged a complaint in terms of Act 26(3)(c) of Arbiter for Financial Services Act against the bank claiming a loss of over €10,000 in an investment made. Barbara explained that he had accepted an offer to invest over €31,000 in a La Vallette Multi Manager Property Fund. The investment was sold by a bank employee and he was regi