Leading economist pulls out of Nexia BT merger

E-Cubed Consultants Ltd pull out of merger with Nexia BT

 Gordon Cordina (left) had merged his company with Nexia BT owned by Brian Tonna in January (second from left)
Gordon Cordina (left) had merged his company with Nexia BT owned by Brian Tonna in January (second from left)

E-Cubed Consultants, whose director is leading economist Gordon Cordina, have pulled out of a merger with Nexia BT amidst the controversial choice of Energy Minister Konrad Mizzi and his financial advisors to open a company in Panama.

Mizzi confirmed that his advisors, Nexia BT, suggested New Zealand and Panama as an ideal set-up to manage his family assets. Mizzi also confirmed to having paid Nexia BT for its services.

Speaking to the Malta Independent, Cordina confirmed that E-Cubed Consultants left audit, tax and advisory firm Nexia BT, saying: “credibility and impartiality are essential to our work. Following recent press reports, which took me completely by surprise, it was clear that I should continue the work which I had been undertaking for the past 20 years through E-Cubed Consultants.”

Cordina also denied having known of the consultancy services provided to Mizzi and the Prime Minister’s chief of staff, Keith Schembri, in setting up the offshore trusts and companies.

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