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Legal Updates & Insights

  • Article

    High Court Considers Veto of Secured Lenders in Personal Insolvency Applications

    Baker J in the High Court has given three recent judgments in matters concerning Section 115A(9) of the Personal Insolvency Acts 2012 – 2015 (the Acts). This Section gives a Court power to review and approve a Personal Insolvency Application (PIA) rejected at a meeting of creditors.

    Restructuring & Insolvency
  • Article

    Priority Drafting of Legislation for Those on Low Hours/Insecure Contracts

    The Government recently announced its commitment to priority drafting of legislation to enhance protection for those on precarious working arrangements. In particular, it is designed to address those on low hours and insecure contracts.

    Employment
  • Article

    Let the Talks Begin

    Just as the Olympics open with the ritual words "let the Games begin...", so too the Brexit talks begin in Brussels today. The EU side is led by Michel Barnier who is the European Commisson's Chief Negotiator and an experienced EU Commissioner. The UK side is led by David Davis who is Secretary of State for Exiting the European Union and was tipped yesterday as the next leader of the Conservative

    Brexit
  • Article

    Just how “fair” do employee investigations need to be? A new High Court case to be aware of

    Conducting a fair investigation can be a legal minefield for many employers and a recent High Court decision (Michael Lyons v Longford Westmeath Education and Training Board) has gone a step further, seemingly adding to employees' procedural armoury! The Court held that where one outcome of an investigation was potential dismissal or an adverse impact on the employee's reputation, the employee has

    Pensions & Incentives
  • Article

    Court Analyses Approach to Election between Damages and Loss of Profits in Comparative Advertising Case

    In Aldi Stores v Dunnes Stores [2016] IEHC 256, the High Court refused to order Aldi to elect between a claim in damages and an account of profits prior to a damages trial. The application arose in circumstances where Dunnes had been previously found to have engaged in misleading comparative advertising and infringed Aldi's trademarks.

    Disputes
  • article

    Companies (Accounting) Act 2017 (other than Section 80) is in force: Your Guide to the Highlights

    The Companies (Accounting) Bill was signed by the President on 17 May 2017, and is accordingly the Companies (Accounting) Act 2017 (the Accounting Act). Almost all of its provisions came into force pursuant to a commencement order signed by the Minister for Jobs, Enterprise and Innovation (DJEI) on 2 June 2017 and published on 6 June 2017 (the First Commencement Order).

    Companies Act
  • Article

    Tracker, Financial Services Regulation & Compliance - Funds

    On the Domestic Front: Companies (Accounting) Act 2017 will come into operation on 9 June 2017; Central Bank publishes AIFMD Q&As and UCITS Q&As. On the EU Front: ESMA publishes principles on supervisory approach to relocations from the UK; European Council adopts the Money Market Fund Regulation

    Asset Management & Investment Funds
  • Article

    Tracker, Financial Services Regulation & Compliance - Insurance

    On the Domestic Front: Supreme Court reaches decision in Law Society of Ireland v The Motor Insurers' Bureau of Ireland; Central Bank publishes notice on reporting under Solvency II. On the EU Front: Insurance Europe publishes Annual Report and review of indirect taxation on insurance contracts; European Commission adopt Solvency II Implementing Regulation on the calculation of technical provision

    Financial Regulation
  • Article

    Tracker, Financial Services Regulation & Compliance - Cross Sectoral

    On the Domestic Front: Exemption from stamp duty announced on the transfers of shares in Irish companies admitted to the Enterprise Securities Market of the Irish Stock Exchange; Financial Services and Pensions Ombudsman Bill 2017 published. On the EU Front: EBA consults on draft Guidelines on security measures for operational and security risks of payment services under the PSD II; Corrigendum to

    Financial Regulation
  • Article

    Tracker, Financial Services Regulation & Compliance - Investment Firms

    On the Domestic Front: Central Bank publishes Markets Update, Issue 3 2017. On the EU Front: ESMA publishes final report on Product Governance Guidelines under the MiFID II; ESMA publishes opinions and updated Q&As in relation to MIFID II; European Commission publishes a proposal for a regulation amending the EMIR

    Financial Regulation
  • Article

    Tracker, Financial Services Regulation & Compliance - Banking

    On the Domestic Front: Initial public offering of shares in AIB announced by the Minister for Finance. On the EU Front: EBA publishes opinion on "own funds" in the context of the CRR and CRD review proposal; ECB publishes guidance on Fit and Proper Assessments and on Leveraged Transaction.

    Finance
  • Article

    Using tax monies to fund the running expenses of a Company led to restriction of Directors

    In Leahy v Doyle & anor [2016] IEHC 177, the High Court issued orders of restriction in respect of directors of two companies (Gingersnap and Scappa), under Section 150 of the Companies Act 1990 (now Section 819 of the Companies Act 2014).

    Disputes