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Prosecution ordered to 'streamline' evidence in case against Zenith directors timesofmalta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofmalta.com Daily Mail and Mail on Sunday newspapers.
Updated on 26/04/2021 at 18:57 By means of a decree of the Court on 13 April 2021 relating to Zenith Finance Limited (‘Zenith Finance’), Hector J. Spiteri was appointed as administrator of Zenith Finance to take control of the business of Zenith Finance as well as to preserve all the assets of Zenith Finance, the MFSA said in a notice, Zenith was in the news recently as Zenith Finance’s Matthew Pace and Lorraine Falzon were charged with, amongst other things, money laundering, when police arraigned a total of 11 people – including former OPM chief of staff Keith Schembri. As a consequence of that court order, the Malta Financial Services Authority will be terminating, with effect from 28 April 2021, the appointment of Stephen Paris as Competent Person for Zenith Finance on the basis of the fact that the designated role and responsibilities of Mr Paris will overlap those will be undertaken by Mr Hector J. Spiteri. ....
Stephen Paris, appointed by MFSA last month to run Zenith Finance has been replaced by court-appointed administrator Hector Spiteri. In March the Malta Financial Services Authority suspended the operations of Zenith Finance Limited and Zenith (Tied Insurance Intermediary) Limited after its owners Matthew Pace and Lorraine Falzon were granted bail over money laundering charges. The two, along with their advisory firm, previously known as MFSP, have been charged with a slew of other financial crimes on Saturday. Their case is linked to alleged graft involving former OPM chief of staff Keith Schembri and former managing directors of Allied Newspapers Adrian Hillman and Vincent Buhagiar. ....
Zenith placed under court control following money laundering charges against owner maltatoday.com.mt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from maltatoday.com.mt Daily Mail and Mail on Sunday newspapers.
ERA gives clearance for DB project Authority will propose permit conditions related to protection of Wied Ħarq il-Ħammiem cave 23 April 2021, 3:58pm by James Debono The DB Group’s City Centre’s project, now consisting of two 17 storey towers and a 12-storey hotel, has been given the clearance of the Environment and Resources Authority (ERA) board. ERA chairman Victor Axiak had already voted for the project in 2018 when the project consisted of a 38 storey tower and a 17 storey high hotel. Axiak, who is now facing calls for resignation by Environmental NGOs, had justified his vote by saying that all the conditions proposed by ERA were included in the permit. ....