Malta is currently hosting for the first time the Annual European Congress of FENCA – Federation of European National Collection Associations, an event that also coincides with the 30th anniversary of the federation.
FENCA’s 23 national member associations represent 75% of all credit management, debt collection and debt purchase companies in Europe and hold 80% of the market share within the EU, with well over 80,000 staff providing services for more than five million businesses, including SMEs, European and overseas banks, as well as the public sector across the EU.
Minister for Justice Jonathan Attard addressed the opening of the conference where he reiterated that in recent years the Government has implemented several reforms to strengthen the legislative framework relating to the work of the credit management agencies and debt collection agencies. Minister Attard went on to say how the Government is working to establish a specialized Commercial Court, which will deal amongst others with insolvency and credit matters. In this regard he stated that, following the last call for 3 additional Judges, the Chief Justice will have the opportunity to have 2 Judges assigned to cases in the commercial sector.
Minister Attard stated that with the aim of having higher standards and in compliance with European laws, the Insolvency Directive, the Consumer Credit Directive and the Late Payment Directive were transposed and implemented, among a number of other measures. While work is underway to update the Court’s mode of service (notification system), especially those dealing with warrants and precautionary warran
ts and this together with an unprecedented investment in digitization, with the aim of increasing efficiency.
Around 200 delegates from the European Union, North Africa, the United States and Asia are attending this conference. The Conference was also addressed by the President of the Federation Claus Spedtsberg and several other speakers.
