Under the heading ‘Investor in Mizzi firm linked to corruption’, the Times of Malta reported on April 5 that a shareholder in Energy Minister Konrad Mizzi’s Panama company “is linked with a number of other shell companies that have been involved in major corruption scandals”.

The article further reported that Leticia Montoya Moran, who worked for the Panama legal firm Mossack Fonseca, “holds shares in Dr Mizzi’s company in Panama called Hearnville Inc.”.

Dr Mizzi took exception to the article and filed libel proceedings, insisting that the only shareholders of Hearnville Inc. are Orion Trust (New Zealand) Ltd as trustees of the Rotorua Trust. He said: “There are no other shareholders and definitely no investors in the company, which as confirmed has no funds or bank accounts.”

Dr Mizzi also noted that, contrary to the statements in the article, the revelations made by the International Consortium of Investigative Journalists and the documentation published concerning the matter “have completely vindicated the facts as freely and willingly divulged by me”.

While a document released by the ICIJ as part of the Panama Papers is dated July 2, 2015, the news report that appeared on the Times of Malta on April 5  indicates that Ms Montoya Moran is still a shareholder (in the heading she was described as “investor”).

The Times of Malta accepts Dr Mizzi’s declaration that the only present shareholders of Hearnville Inc. are Orion Trust (new Zealand) Ltd as trustees of Rotorua Trust.

Any inconvenience is sincerely regretted.