What hope when leading newspapers get basic facts wrong in a front-page headline?

This was on the front page of the Times of Malta’s print edition today.

Libyan companies?

The whole point here – the fundamental crux of the matter – is that they are MALTESE companies incorporated for Libyan citizens by a Maltese accountant and registered at the Malta Financial Services Authority which has no jurisdiction over Libyan companies.

One despairs.

Companies are not Libyan or Italian or Maltese or British just because their shareholders are Libyan, Italian, Maltese or British. Companies are Libyan or Italian or Maltese or British if they are incorporated in Libya, Italy, Malta or the UK under the laws of that state and registered there.

Companies are separate and distinct ‘legal persons’ to their shareholders.