In the recent case of Mascarenhas v Karim and Anor, the Court of Appeal upheld a High Court finding of shareholder oppression under section 212 of the Companies Act 2014 against an individual who was neither a shareholder nor a director of the company.
Corporate and M&AThe TAC issued its determination recently in relation to an appeal concerning the entitlement of an Irish plc holding company to recover VAT incurred on certain transaction and ongoing costs.
TaxIn domestic news, the CBI is engaging with Irish Funds in respect of its current guidance on filings relating to taxonomy alignment disclosure.
Asset Management & Investment FundsIn domestic news, the long-awaited Insurance (Miscellaneous Provisions) Bill 2022 passed Report and Final Stages in the Dáil on 2 June 2022 and President Michael D Higgins signed it into law as the Insurance (Miscellaneous Provisions) Act 2022 (the Act) on 27 June 2022.
Financial RegulationIn domestic news, on 29 June 2022, the CBI hosted the inaugural meeting of the Climate Risk and Sustainable Finance Forum. The forum is a consultative forum for building a shared approach to the understanding and management of the risks and opportunities posed by climate change to the financial system.
Financial RegulationIn domestic news, on 23 June 2022, the CBI published the final form of the third edition of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2022 (the CAR 2022).
Asset Management & Investment FundsIn domestic news, on 29 June 2022, the CBI welcomed the statement from the Banking and Payments Federation Ireland (BPFI) following the CEO roundtable meeting. At the meeting, the retail banks set out the programme of work being undertaken by sector to manage the migration of personal and business bank accounts.
FinanceThis ALG Soundbite considers the recent case of Mascarenhas v Karim and Anor, where the Court of Appeal upheld a High Court finding of shareholder oppression under section 212 of the Companies Act 2014.
Corporate and M&AThe Council presidency and the European Parliament recently reached provisional agreements in respect of the markets in crypto-assets regulation (MiCA), and the regulation on information accompanying transfers of funds (FTR).
Financial RegulationThe Corporate Enforcement Authority has been established and the Companies (Corporate Enforcement Authority) Act 2021 (the Act) commenced by way of Ministerial orders, which were signed by the Tánaiste on 5 July and 6 July respectively.
Corporate and M&AThe new Corporate Enforcement Authority has been established by Ministerial Order and Ian Drennan has been appointed as Chief Executive of the Authority.
Corporate and M&AThe Irish Takeover Rules are being significantly amended for the first time since 2013. The Irish Takeover Panel has recently confirmed that the changes will come into effect on 22 July 2022.
Corporate and M&A