Issue link: https://maltatoday.uberflip.com/i/248536
Republic Street, Valletta. News Date, Judicial Sale No. and Time 13 February, 2014 50/13 – 10:30am EGL Property 15 maltatoday, SUNDAY, 26 JANUARY 2014 Apartment internally marked 8, Flamingo Court, Triq Zarenu Dalli, Bir!ebbu"a having about 130m2 of internal space and valued by the appointed architect in the amount of one hundred and ten thousand euros (#110,000). Despite Labour criticism, Orizzont 'leak' reveals tensions Bannister reappointed inside tourism MFSA chairman ministry 13 February, 2014 58/10 – 11:00am EM MATTHEW VELLA Seven out of twenty-four (7/24) undivided share of the adjacent tenements number one CONTINUES FROM PAGE 1 Behind the day he will(144), his case to the hundred and forty-four be putting one public façade is the tension between MTA board on Tuesday, after an hundred and forty-five (145)minister one hundred and forty-six (146), by the and and the authority, urgent board meeting was called where Gulia and thewhich perministry's property is on the andboard. in Triq San %u!epp, &al Tarxien, Joe Borg appear four membersfree MTAmeeting, manent secretary Sparks may fly at the to be at odds with Formosa Gauci, which is not being convened unencumbered and which share is valued at eighty-five thousand by while the latter enjoys the support Gulia. The former MP, who until euro (#85,000). of Karmenu Vella. 2013 was shadow minister for tour- THE chairman of the Malta Finan- cial Services Authority, Prof. Joseph Bannister, has been reappointed to his post by the government. He will serve at the helm of the financial regulator despite having been under severe criticism by Labour when it was in Opposition, due to his handling of the investigation in the La Valette multi-manager property fund. The property fund lost over €50 million in investors' savings due to investments made in its underlying funds whose overseas property assets lost value, and led to a protracted investigation on Bank of Valletta's role in the way it sold the fund to retail clients who were not experienced investors. He was recently asked to mediate between the Labour government and the Opposition in talks on the Individual Investor Programme, the controversial sale of Maltese passports. Bannister, whose salary heading the very important regulator is over €82,000, was reappointed by Prime Minister Joseph Muscat. He is considered to be the architect of Malta's financial services regime, which today employs close to 7,000 and commanding average gross annual salaries of over €48,000. Financial observers say that under Bannister, Malta turned into a financial services powerhouse. But he was also taken to task over consumer protection rules. One of Bannister's main critics was education minister Evarist Bartolo, who said the MFSA had failed to protect consumers, describing Bannister as a man who "boasts of enjoying total immunity and that he has enough contacts through his network to survive and perpetuate his reign for ever". Bartolo also accused Bannister of dismissing complaints by stockbroker Paul Bonello, who represented hundreds of La Valette property fund investors who lost their savings in the fund. Bonello claimed that almost €500 million worth of investments made by the Maltese retail public in pro- Hal Farrug traffic incident victim passes away THE 44-year-old man who was involved in a traffic incident on Friday morning in Hal Farrug has passed away, the Police's communications office confirmed yesterday. The foreigner resided in Ghaxaq. Preliminary investigations found that he was first hit by an Opel Corsa being driven by a man, 21, who lives in Qormi, before being hit by another vehicle as he was lying on the ground. It appears that the second vehicle left the scene before any assistance could be sought. The driver of the second vehicle was called in for questioning. Seven out of twenty-four (7/24) undivided share of the tenement number fifty-five (55), in Triq i!-$onqor, Marsaskala, granted to third parties by title of lease, otherwise free and unencumbered, which share is valued at twelve thousand euro (#12,000). Vella's public backing this week was made while Gulia was on an official visit to Slovakia with President George Abela. MaltaToday spoke to Gulia, who claimed that he called Formosa Gauci when he learned of the lOrizzont front-page story to ask for his version of what was being reported. This newspaper was told that Gulia sent an email to Formosa Gauci a day after the story appeared in the press. Formosa Gauci has told MaltaTo- ism, failed to get elected in the last elections but was instead appointed chairman of MTA on an €18,000 honorarium. Unlike other similar regulators, the Labour government have not appointed an executive chairman at the MTA where one appointee takes the role of both chairman and CEO. And Vella has made it clear that he has no intention of removing Formosa Gauci, who enjoys the support of both MTA board directors and the tourism industry. 18 February, 2014 49/11 – 10:30am PP Maisonette numbered one hundred and thirty-eight (138), in Parades Street, St. Paul's Bay, including its roof and airspace and with all its appurtenances, free and unencumbered valued at one hundred and twenty five thousand euro (#125,000). 18 February, 2014 68/12 – 11:00am EGL The maisonette named "Icona", in Triq il-Qattus, Birkirkara without its own airspace or sottosuol, subject to annual and perpetual ground rent, which is revisable, of nine Euros and thirty-two cents (#9.32) and valued by the appointed architect at two hundred thousand Euros (#200,000). The garage internally numbered seventy-five (75) and known as "Gordon Motor Repair" accessible from a ramp and drive-in leading to Triq in-Nassab, &al-Qormi, valued by the appointed architect at one hundred and fifty thousand Euros (#150,000), free and unencumbered. 27 February, 2014 97/12 – 10:30am Prof. Joseph Bannister EGL Flat 4, Arizona Court, Triq Santa Aristarkus, St. Paul's Bay, offers should begin from one hundred and forty nine thousand four hundred and eighty euro (#149,480) together with the MFSA in consultancies to his firm movables. Dechert LLP. fessional investor funds and order complex instruments, had been suspended or gone bust, accusing the The MFSA had said Bannister's MFSA of ineffective regulation. involvement was declared, and that InFurther details can be obtained from the website: the past, Bartolo had also ac- Bannister's international involvecused Bannister of failing to declare ment had been "utilised by both the http://www.justiceservices.gov.mt/courtservices/JudicialSales/search.aspx a directorship in a Cayman Islands MFSA and various practitioners to The in the Malta Financial solve complex problems in the funds company bidders taking part in the auction must present their identity card. Services Authority's annual report. sector". Bannister denied any conflict of inThe regulator said Astleford had Bruno $ahra terest as director of Kairos Fund. resigned from Kairos in early 2007 Bartolo claimed that another Kai- and that Dechert LLP had helped For the Registrar of Civil Courts and Tribunals ros director, Peter Astleford, re- MFSA develop its Professional Inceived a €463,000 direct order from vestor Fund [PIF] regime. COURT NOTICE The Registrar of Civil Courts and Tribunals informs that the Civil Court, First Hall ordered the following sales by auction: Date Judicial Sale No. and time 26 February, 2014 32/11 – 12:00pm JGL Place First Floor, Courts of Justice, Republic Street Valletta Items One hundred (100) ordinary shares within the company S.C. & Company Limited C-6050 Further details can be obtained from the website: http://www.justiceservices.gov.mt/courtservices/JudicialSales/search.aspx The bidders taking part in the auction must present their identity card. Bruno $ahra For the Registrar Civil Courts and Tribunals