The liquidation of commercial partnerships : a comparative study of the law in Malta, Italy and the United Kingdom

Abstract

This study attempts to analyse the main legal principles governing the winding up of Maltese commercial partnerships by means of a comparison with Italian and English law. It would seem that this approach is in some way justified in view of the peculiar nature of the sources of Maltese law in regard to the liquidation of commercial partnerships. Indeed the "Report Of The Commercial Partnerships Law Reform Commission, 1956 11 draws special attention to the sources of the Commercial Partnerships Ordinance, 1962. The Commission acknowledged their indebtedness to various legislations in regard to the sources of our present law. This indetedness was due in particular to the English Companies Act, 1948, and to the Italian Civil Code, 1942, the former having been largely followed in respect of limited liability companies and the latter in respect of partnership 'en nom collectif' and partnership 'en comandite' as well as in respect of the dissolution and winding up of the three kinds of partnership.