Malta Tourism Authority Sets Up Insolvency Fund

An insolvency fund has been set up by the Malta Tourism Authority to provide security to customers in the event of a licensed travel agent becoming insolvent, Times of Malta reported. Customers who would have booked travel packages that were not availed of because of insolvency, would get a refund of the payments made if they would have bought their packages from an agent subscribed to the fund. In a statement on Friday, the MTA said it said it undertook several checks over the past months to ensure that travel packages were only sold by appropriate licensed travel agents and that each package organiser and/or package holiday retailer was subscribed to the fund. Several travel agents both in Malta and Gozo were found to be either in breach of license conditions or operating without the necessary licence. Fines were issued and some agents were subject to further legal action. The public would only be covered for insolvency if they bought their packages from a licensed agent, who should have an insolvency fund membership certificate on display, it warned. Read more.
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