In Waterford Credit Union Ltd v J & E Davy [2019] IECA 157 the Court of Appeal refused discovery of a category of documents, even though it deemed them both relevant and necessary, because the plaintiff's solicitors had breached their undertaking not to disclose information contained in documents discovered in unrelated proceedings. Peart J refused to order discovery to prevent the defendant su...
DisputesMáire Conneely (Litigation & Dispute Resolution Senior Associate) recently attended the IAGA International Gaming Summit in California (4-6 June). Over the course of three days, the 2019 Summit included a wide range of sessions focused on key issues facing the global gambling industry. As part of this Máire featured an article in the June Issue of G3 (Global Games and Gaming Magazine) where sh...
Betting, Gaming & LicensingThis decision clarified that all employers must have a suitable system in place to ensure they are recording employees’ daily and weekly working hours. As Ireland’s working time legislation already requires employers to keep such records, this case may not have the same ramifications for employers here as it will have for employers in other European Union jurisdictions. That said, the practica...
EmploymentDomestic News – There are many noteworthy items to report cross-sectorally on the domestic front this month, however the most notable being, the keynote speech on the topic of the Senior Executive Accountability Regime (SEAR) delivered by the Director General of the CBI Derville Rowland. European News - On the European front, ESMA has published data for the double volume cap and the system int...
Financial RegulationTwo CBI publications shed light on the CBI's expectations this month: the Intermediary Times Newsletter which provides updates on Brexit planning and a keynote speech by the Deputy Governor of the CBI at the Insurance Ireland annual lunch in which he addressed some challenges and common issues arising in the insur...
Financial RegulationDomestic News – Once again, the EMIR Refit Regulation and Director Michael Hodson's keynote speech are notable developments on the domestic funds front this month European News – In terms of European developments, the impending entry in to force of both the second shareholders rights' Directive (SRD II) and the Delegated EuSEF Regulation with regards to social entrepreneurship funds are notabl...
Asset Management & Investment FundsDomestic News – On the domestic front, there have been no notable developments, however the Director of Asset Management and Investment Banking of the CBI discussed the new prudential regime for investment firms, which was agreed in April, in his keynote speech. European News – There have been many developments on the European front this month, most notably relating to the publishing of the EMI...
Financial RegulationDomestic News – on the domestic front, there was a large focus on effective supervision this month within the Central Bank of Ireland (CBI), as it featured in two keynote speeches. European News – there have been several consultations on technical standards at European level this month.
Financial RegulationIn Times Travel (UK) Ltd v Pakistan International Airlines Corporation [2019] EWCA Civ 828 the Court of Appeal found that a lawful act, done in good faith did not constitute illegitimate pressure giving rise to a right of avoidance of a contract on the basis of economic duress. Background The defendant was the only airline flying directly between the UK and Pakistan. The plaintiff's bus...
Disputes31 October is the new date fixed in UK and EU law for the UK's departure from the bloc. At this stage, the terms remain unsettled. The Withdrawal Agreement, agreed in draft with the EU at the end of 2018, has now been rejected three times by the UK Parliament. EU leaders insist that, by 31 October, the UK must choose whether to ratify the exit treaty, opt for a no-deal Brexit or cancel its depa...
BrexitPeter Walker, Partner, and Sinéad O'Connor, Partner in the Finance Department provide an Irish legal guide to securitisations. They review areas of interest such as asset sales, special rules, insolvency laws, security issues, regulatory issues, taxation and Choice of Law – receivable contracts and receivables purchase agreements.
Capital Markets - DebtS.I. No. 230 of 2019, Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the Central Bank UCITS Regulations) are effective from 27 May 2019 with some transitional provisions.
Asset Management & Investment Funds
