Claims relating to Maltese Cross Financial Services Limited (updated 18 December 2014)
The Malta Financial Services Authority has, on 11 August 2014, made a determination to the effect that Maltese Cross Financial Services Limited (“the company”) is unable, for the time being, to meet its obligations arising from claims by its investors for reasons which are directly related to its financial circumstances.
As a consequence of this determination, the Investor Compensation Scheme has been required to provide for the payment of compensation in respect of claims arising out of the inability of the company to:
The Investor Compensation Scheme Regulations determine the conditions for eligibility to such compensation. The maximum compensation that may be payable by the Scheme amounts to €20,000, or ninety per cent of an investor’s eligible claims, whichever is the lower.
Several investors have already lodged their application for compensation, and the Scheme has to date effected payments to claimants who have made a claim and are eligible for compensation. Clients of the company who have not already made a claim may do so by not later than 31 January 2015. The right of an investor to obtain compensation from the Scheme will be forfeited if the claim is not made within this prescribed time-limit.
Investors should seek legal assistance when determining whether to accept compensation from the Scheme and when considering whether they have other available means of redress.
Claim Application Form
English version (v1.1 - updated on 26 August 2014). You need Adobe Acrobat Reader or similar software to open this file.
Maltese version (v 1.2 - updated 26 August 2014). You need Adobe Acrobat Reader or similar software to open this file.
Amendment to the previous version (v1 - 13 August 2014):
The declaration regarding subrogation (Section 10 of the Claim Application Form) has been changed and now reads:
I/we understand that the Investor Compensation Scheme will, on paying any compensation to me/us, be subrogated in my/our rights and claims against Maltese Cross Financial Services Limited and against any other party solely with respect to the recovery of the compensation paid to me/us by the Investor Compensation Scheme. The aforesaid subrogation shall not prejudice any claims that I/we may have for amounts in excess of the amount paid to me/us by the Investor Compensation Scheme.
The application forms can also be obtained upon request from the offices of the Malta Financial Services Authority (Notabile Road, Attard).
Questions and Answers
The Investor Compensation Scheme has also issued a Question and Answer (Q&A) about the claim application process. This Q&A will be updated from time to time.
Announcements issued by the Malta Financial Services Authority
Notices and announcements issued by the MFSA are available here.
Freephone: 8007 4924 (working days, from 8am to 5pm)