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 RegulationOn 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 RegulationOn 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 RegulationOn 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.
FinanceIn 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).
DisputesSignificant reforms to Ireland’s outdated gambling laws have long been promised. Most notably, in July 2013 the Government published the draft scheme of the Gambling Control Bill (the Bill).
Betting, Gaming & LicensingSince the publication of our Client Alert dated 16 May 2017, the Companies Registration Office has published revised information regarding: (1) the timelines for the launch of the central beneficial ownership register for companies and industrial and provident societies(Central Register); and (2) the time frame for companies and I&Ps to make relevant beneficial ownership filings on the Central Reg
Corporate Governance & ComplianceWhat does a Fund need to do to prepare for the General Data Protection Regulation (GDPR) which will come into force on 25 May 2018?
Asset Management & Investment FundsOn the International Front we look at the ESMA principles on a supervisory approach to relocations from the UK, ESMA Q&As for AIFMD and UCITS, MMF Regulation, PRIIPs, FinTech and Anti- Money Laundering/ Combating the Financing of Terror/ Corruption.
Asset Management & Investment FundsIn Irish practice developments: we look at some approaching deadlines, a CBI Markets Update, ETFs, GoAML, Central Beneficial Ownership Register for Companies, Companies (Accounting) Act 2017, FATCA/ CRS and a Speech by Gerry Cross, Director of Policy and Risk at the Central Bank.
Asset Management & Investment FundsOur client, a US aircraft lessor, had contracted to sell an aircraft and related engines. However, the purchaser indicated that it would not complete the purchase, unless a series of international interests registered in the International Registry against the Aircraft, in respect of a long expired sublease, were discharged
Aviation & Transport FinanceIn a High Court decision of 22 May 2017, Baker J rejected a proposal by a secured lender to write down a portion of a debtor couple's mortgage debt. This proposal was rejected because future repayment of the warehoused part of the loan was not predicated on an ability to repay and the proposal was therefore capable of creating circumstances amounting to insolvency at the end of the mortgage term.
Restructuring & Insolvency
