Issue link: https://maltatoday.uberflip.com/i/404410
maltatoday, SUNDAY, 26 OCTOBER 2014 4 News CONTINUED FROM PAGE 1 The share- holders' committee held an urgent meeting to discuss not only the fi- nancial and legal implications "but also the morality of considering such a proposal so close to election day," Micovic said. "In view of the complexity of the document, the short time-frame prior to a general election and the specific mandate given to the com- mittee by the shareholders of the NBOM, the committee formally re- plied to Minister Fenech on March 6, 2013 as follows: "'We have seen the offer to settle. We appreciate this offer, and would add that we have been pressing for a settlement for a good number of years. Naturally we would like to conclude properly. This offer is not in the simple form of a payment of compensation to each claimant but uses a mechanism which is complex and which has to be studied care- fully. We have passed on the draft to our legal consultants, and once we have proper advice we look forward to be able to meet you in order to dis- cuss the matter further with a view to eventually reaching an agreement on this long standing matter'." Micovic's reply is a reaction to Fenech's claim last Sunday in Malta- Today, that the NBOM shareholders refused the €25 million offer. "He is free to dispute the above but these are true facts and there is docu- mentation and there are witnesses to back it up. After 25 years in power the Nationalist government only found the wherewithal to attempt to put a written settlement proposal five days before the general election, when it was quite obvious that they were going to lose power." Micovic also took issue with claims made earlier last week by Fenech, in which he pointed out the irony of a Constitutional decision confirm- ing compensation was due for the NBOM shareholders under a Labour government when the "injustice [was] created by the Mintoff gov- ernment in the 1970s that had taken over the bank from the shareholders, depriving them of their rights and property." Micovic pointed out that the irony was the former government's com- pensation offer after having attempt- ed to prescribe their litigation case. "Perhaps the Nationalist Opposi- tion should remember that it was their government in 2010 that want- ed to prescribe the shareholders' liti- gation in a blatant attempt to nullify our legitimate claims for compensa- tion," she said. Compensation due On Thursday, October 16, the Constitutional Court rejected an ap- peal by the Maltese government, on a decision by a civil court in its consti- tutional jurisdiction, that found that the rights of National Bank of Malta shareholders had been breached when they were forced to surrender their stakes without any compensa- tion. A second decision also rejected another appeal on a court decision that decreed that shareholders' con- stitutional rights had been breached and that compensation was due. The judgment by Mr Justice Joseph Micallef, originally in January 2014, came over 40 years after the gov- ernment led by the late Dom Mint- off nationalised the National Bank, which became Bank of Valletta in 1974, after a run on the National Bank's reserves. The case was instituted by 49 shareholders and their heirs in 1992 against the prime minister, the fi- nance minister and the Council of Administration that ran the bank shortly before its nationalisation. The cases were filed in 1992 and later amalgamated into the original one from 1977, to prove that the vio- lence and pressure they endured to sign over their shares for nothing in 1973 continued for years. National Bank saga Shareholders had been awaiting judgment since November 2010 but this was put off seven times in the past two years. PN's €25 million days before COURT NOTICE The Registrar, Civil Courts and Tribunals notifies that the First Hall of the Civil Court ordered the sale by Judicial Auction of the following property to be held in the corridors of the Courts of Justice, Republic Street, Valletta. Date, Judicial Sale No. and Time Property 4 th November, 2014 89/10 – 11.00am JGL The tenement numbered 21, 'Charmaine', St. Anthony Street, Fgura, including its airspace, with the drains and drainage system in common with the underlying tenement, subject to the active and passive servitudes resulting from its relative position, with all its rights and appurtenances, valued at one hundred and forty-two thousand euro (!142,000). 4 th November, 2014 64/13 – 11.30am EM Maisonette, number eighty-one (81), named 'Thuema House', formerly numbered six (6), in Triq il-Karmnu, "abbar, on two floors with an underlying garage belonging to third parties, with its own airspace, free and unencumbered and valued at one hundred thousand Euros (!100,000). 4 th November, 2014 103/13 – 12.00pm JGL Villa numbered one hundred and sixty four (164), named 'Mistral' in Triq il- G#aqda, Mellie#a, which villa has been built on a portion of land, which forms part of the territory known il- Wied ta' G!ajn "ejtuna limits of Mellie#a, which land is subject to annual and temporary rent of one hundred and sixteen euros and forty seven euro cents !116.47) for one hundred and fifty years, which rent began from the 9 th November 1963. The property is valued for one million and one hundred thousand Euros ( ! 1,100,000). 6 th November, 2014 54/14 – 10.30am EM The tenement number thirty four (34), named 'Simon', Triq l-Annunzjata, Tarxien, free and unencumbered offers should begin from forty eight thousand (!48,000). 6 th November, 2014 20/10 – 11.30am PP Farmhouse and annexed garages numbered fifty-one (51), fifty-two (52), fifty- three (53) and fifty-four (54), in Zejtun Road, Marsaxlokk, together with the annexed land, valued at seven hundred and forty-seven thousand euro (!747,000). Half undivided ($) share of the tenement unnumbered and named 'Saint Sebastian' in Triq Barthlemy, Marsaxlokk, free and unencumbered, valued at one and ten hundred thousand euro (!110,00). Half undivided ($) share of the penthouse, marked with the number (6) 'Ascot Building', Dawret il-G%ejjer, Bu&ibba, free and unencumbered, valued at one hundred and five thousand euro (!105,000.) 13 th November, 2014 27/14 – 11.00am EGL Tenement fifty eight (58) D, in Republic Street , known as A.C. Aquilina & Co. free and unencumbered valued at six hundred and sixty five thousand Euros (! 665,000). 13 th November, 2014 62/12 – 11.30am EM Maisonette numbered twenty one (21), in Triq Tonna, Sliema, including its airspace and part of the said maisonette is overlying the tenant numbered twenty (20) property of third parties which it shares drainage system, subject to passive servitudes which results from its position, free and unencumbered with its all rights and appurtenances valued at one hundred and thirty thousand euro (!130,000). 13 th November, 2014 60/13 – 12.00pm EM Apartment number six (6) named 'Lowndes Park B', in Triq Alfred Gauci before known as Triq An&lu Pullicino, Bay Street, San 'iljan, subject to perpetual ground rent of one hundred and forty Ewro (!140) yearly and valued at one hundred and sixty five thousand Euro (!165,000). Garage Upper Basement internally level marked numbered sixteen (16), named 'Lowndes Park B', in Triq Alfred Gauci before known as Triq An&lu Pullicino, Bay Street) San 'iljan, valued at twenty two thousand Euro (!22,000). 18 th November, 2014 74/13 – 10.30am EGL Ground floor maisonette, with own airspace, in Sqaq San Anard sive Sqaq San Leonardu, Zejtun unofficially marked with number five (5) letter 'A', subject to an annual and perpetual ground rent of four cents two mils (4c2), free and ununcembered with all its rights and valued one hundred and seventy five thousand and five hundred Euros (! 175, 500). Ground floor maisonette, with own airspace, in Sqaq San Anard sive Sqaq San Leonardu, Zejtun unofficially marked with number five (5) letter 'B', subject to an annual and perpetual ground rent of four cents two mils (4c2), free and ununcembered with all its rights and valued one hundred and twenty nine thoudand Euros (! 129,000). 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. Rudolph Marmara' For the Registrar of Civil Courts and Tribunals 13 th November, 2014 27/14 – 11.00am EGL Tenement fifty eight (58) D, in Republic Street , known as A.C. Aquilina & Co. free and unencumbered valued at six hundred and sixty five thousand Euros (! 665,000). 13 th November, 2014 62/12 – 11.30am EM Maisonette numbered twenty one (21), in Triq Tonna, Sliema, including its airspace and part of the said maisonette is overlying the tenant numbered twenty (20) property of third parties which it shares drainage system, subject to passive servitudes which results from its position, free and unencumbered with its all rights and appurtenances valued at one hundred and thirty thousand euro (!130,000). 13 th November, 2014 60/13 – 12.00pm EM Apartment number six (6) named 'Lowndes Park B', in Triq Alfred Gauci before known as Triq An&lu Pullicino, Bay Street, San 'iljan, subject to perpetual ground rent of one hundred and forty Ewro (!140) yearly and valued at one hundred and sixty five thousand Euro (!165,000). Garage Upper Basement internally level marked numbered sixteen (16), named 'Lowndes Park B', in Triq Alfred Gauci before known as Triq An&lu Pullicino, Bay Street) San 'iljan, valued at twenty two thousand Euro (!22,000). 18 th November, 2014 74/13 – 10.30am EGL Ground floor maisonette, with own airspace, in Sqaq San Anard sive Sqaq San Leonardu, Zejtun unofficially marked with number five (5) letter 'A', subject to an annual and perpetual ground rent of four cents two mils (4c2), free and ununcembered with all its rights and valued one hundred and seventy five thousand and five hundred Euros (! 175, 500). Ground floor maisonette, with own airspace, in Sqaq San Anard sive Sqaq San Leonardu, Zejtun unofficially marked with number five (5) letter 'B', subject to an annual and perpetual ground rent of four cents two mils (4c2), free and ununcembered with all its rights and valued one hundred and twenty nine thoudand Euros (! 129,000). 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. Rudolph Marmara' For the Registrar of Civil Courts and Tribunals Judgment put off seven times in two years Perils of not having caretaker government As the Dean of the Faculty of Laws, Prof. Kevin Aquilina, wrote on The Times on 5 March 2013, partisan interests can easily trump the common good in the run-up to general elections, and proposed an interregnum government to curtail the abuse of ministers "who might try to use government finances and resources for their own political campaign or attempt to influence the public broadcasting station in depicting the caretaker government in good light." Aquilina had proposed a democratic solution to the "power of incumbency dilemma" by having the President take over the governance of the country in the interregnum, where he appoints a technocratic government to serve for the period between dissolution of Parliament and the election of a new government. The technocratic government would be composed of the President and Permanent Secretaries, to ensure continuity in government but also fairness in the electoral process. "The party in government will not enjoy an unfair advantage over the parties in opposition as is the position today and as has been the position since Independence." "In the meantime the ministers' appointment ceases on dissolution of Parliament. It would ensure that ministers do not use the government machinery at this delicate moment in time to advance their own political partisan interests." "By placing government departments, agencies and parastatal organisations under the responsibility of permanent secretaries who, in turn, will be responsible to the President, one ensures that these entities do not involve themselves in partisan politics at such delicate time in a democracy's lifetime."