Jul 2019

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The recent approval by the Irish High Court of a scheme of arrangement that restructured US$1.65bn liabilities of Ballantyne Re plc (Ballantyne) confirms Dublin as one of the most effective restructuring venues in the EU.

Jul 2019

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Full and final settlement clauses are standard in agreements that settle construction disputes. Current market practice is to include in a settlement agreement a full and final settlement clause in the broadest language possible, in order to avoid parties whose relationship has broken down returning to the negotiation table with additional claims in the future.

Jul 2019

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Almost every employer in Northern Ireland will be aware of the recent developments coming from the NI Court of Appeal relating to the calculation of holiday pay within the PSNI (NICA Decision).

Jul 2019

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Domestic News – Director of Asset Management and Investment Banking of the CBI spoke about the approach that the CBI are taking to ensuring they keep ahead of the changing regulation climate. European News – ESMA issued numerous statements relating to different areas of MiFID II including transparency issues, volume cap data, derivatives to be traded on-venue, and launched a common supervisory...

Jul 2019

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Domestically, the CBI issued correspondence in relation to the timeline for the final Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Guidelines for the Financial Sector. In European news there have been numerous developments on a European level, including the introduction by the EU Commission of the CRD, CRR, and the Single Resolution Mechanism Regulation (SRMR).

Jul 2019

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Domestically, The CBI published its quarterly insurance newsletter and the general good rules pertaining to the Insurance Distribution Directive (IDD). There were many notable developments, including the European Insurance and Occupational Pensions Authority (EIOPA) publishing its 2018 Annual Report, a consultation paper relating to Solvency II and monthly technical information relation to...

Jul 2019

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Domestically the updated and consolidated Central Bank UCITS Regulations came in to effect and concluded its review of UCITS performance fees. On the european front, ESMA updated its AIFMD and UCITS Q&A's on depositary functions this month

Jul 2019

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Domestic News – There have been several developments at domestic level, including the implementation of a ban on the sale of binary options and the restriction of the sale of contracts for difference (CFDs) by the Central Bank of Ireland (CBI). A speech was also delivered by the Director of Consumer Protection about banking culture and the drawbacks of a proposed bank remuneration policy. Europ...

Jul 2019

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So-called 'smash & grab' adjudications have been the subject of much debate in the construction industry in the last 18 months.That debate looks set to continue as permission has been granted for an appeal to the Supreme Court - the final court of appeal for civil cases in the United Kingdom.

Jul 2019

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On 5 July 2019, Ireland's Competition and Consumer Protection Commission (CCPC) announced that it had cleared the proposed acquisition of sole control of MCD Productions Unlimited Company (MCD) by LN-Gaiety Holdings Limited (LN-Gaiety). This is subject to a number of commitments that will satisfy concerns raised by the CCPC. The notification process was long. The notification was made on 14 Aug...