On 13 July 2022, the General Court of the European Union (the General Court) handed down its judgment in Case T-227/21 concerning an action brought by Illumina, Inc. (Illumina) and Grail LLC (Grail) to challenge the decision of the European Commission (the Commission) to review the acquisition of Grail by Illumina (the Transaction).
EU, Competition & ProcurementOn 21 July 2022, Ireland's Competition and Consumer Protection Commission (CCPC) announced that it has approved unconditionally the proposed acquisition by Permanent TSB plc (PTSB) of certain assets of Ulster Bank Ireland DAC (UBIDAC) (part of NatWest) after a Phase 2 investigation.
EU, Competition & ProcurementOn 10 June 2022, in AIG Europe SA and others v John Wood Group plc and another [2022] EWCA Civ 781, the UK Court of Appeal (the Court) upheld a Commercial Court decision maintaining an anti-suit injunction granted to insurers, preventing the continuation of proceedings in Canada.
DisputesOn 30 June 2022, the Council and the European Parliament reached a provisional political agreement on the regulation on foreign subsidies distorting the EU’s internal market (the Regulation).
EU, Competition & ProcurementIn previous commentary, we noted that the Commencement Order of the Insurance (Miscellaneous Provisions) Act 2022 (the Act) was signed on 7 July 2022, commencing most provisions.
Insurance & ReinsuranceTo assist companies under pressure during the pandemic, the government extended the time period within which companies may be protected from 100 days to 150 days, provided the company can demonstrate “exceptional circumstances” for needing additional time.
Corporate & M&AOn 16 March 2022, Ms Justice Phelan, delivered judgment in the High Court in Harte Peat LTD -v- Environment Protection Agency & Ors [2022] IEHC 148.
Environmental & PlanningOn 30 June 2022, the Council and the European Parliament reached a provisional political agreement on the regulation on foreign subsidies distorting the EU’s internal market (Regulation).
EU, Competition & ProcurementESMA published a report on the Common Supervisory Action on costs and fees for investment funds. The Common Supervisory Action (on UCITS) was carried out with National Competent Authorities during 2021.
Asset Management & Investment FundsOn 14 July 2022, Oireachtas Senior Parliamentary Researchers Eoin McLoughlin and Emily Heery published a research paper on the 'Regulation of Gambling Advertising'. It comes ahead of the publication of the forthcoming Gambling Regulation Bill and considers some of the key issues impacting gambling advertising in Ireland.
Betting, Gaming & LicensingThe Sick Leave Act 2022 was signed into law by the President on the 20 July 2022 and provides for statutory sick pay for the first time in Irish Law. It is expected that an Order for commencement of the Act will issue shortly.
EmploymentIn our publication the EU Whistleblowing Directive: Blowing the whistle means added compliance for employers we outlined in detail the main provisions of the Protected Disclosures (Amendment) Bill 2022 (the Bill) and what it will mean in practice.
Employment
