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13 May '19
On 9 May 2019 a five Judge Supreme Court handed down a judgment in the case of ACC Loan Management Limited DAC -v- Mark Rickard and Gerard Rickard [2017/146]. The Supreme Court had to make a decision on an appeal from a decision of the Court of Appeal by Mark Rickard. The background to the [...]
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Philip O’ Leary has been appointed as a board member to the Irish Banking Culture Board (“IBCB”). As Managing Partner and head of the Commercial Law Practice with leading Cork-based professional services firm FitzGerald Legal & Advisory, Philip has accumulated more than 20 years specialised experience in representing financial institutions in the areas of new [...]
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In the recent High Court case of The Personal Insolvency Acts 2012-2015 and in the Matter of Thomas Finnegan (a Debtor), delivered on 4 March 2019, McDonald J set a clear statement about the approach the court should take with regards to the issue of costs in Legal Aid cases (not necessarily limited to Ahaile [...]
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A Dundalk based money transfer / Bureau de change business recently made an application to the High Court by way of injunctive proceedings to prevent Bank of Ireland from terminating their business arrangements. The Dundalk based company claimed Bank of Ireland (BOI) wanted to end their banking arrangements and close their accounts because an alleged [...]
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In 2010 James Fagan, as a director and shareholder of Chevas Securities Ltd borrowed €10 million from Ulster Bank to purchase properties in Dublin, Sligo, Dundalk and Galway. The borrowings were secured over a large number of properties, in particular 28 apartments known as Royston Village in Kimmage, Dublin. The borrowings were restructured in September [...]
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Allied Irish Banks,p.l.c. (“AIB”) (in proceedings 2018/ IEHC306), has lost it’s application for a revisit of judgment of Judge Marie Baker’s adjudication in findings regarding AIB Mortgage Bank v Thompson [2017] IEHC 515 (High Court, Baker J, 31 July 2017) – Summary Judgment proceedings. In the 2017 Summary Judgment proceedings Justice Baker found AIB Mortgage Bank failed [...]
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Solicitor, Gerald Kean was brought to court by EBS over an accountable trust receipt (ATR) that was given by him to EBS in 2008 in order to obtain the title deeds of his client’s three properties, which were held by EBS as security for the mortgage that was taken out against them. Mr. Kean gave [...]
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When a Bank inserts a pre-condition to the drawdown of funds, then it should ensure that same is complied with, or else it may face a challenge as was faced by ACC Bank in the case of ACC Loan Management Limited –v- Gerard Sheehan [2006] IECA343/87/2016. Background The circumstances of the case are that [...]
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This case refers to Section 74(3) of the Land and Conveyancing Law Reform Act 2009 which states that “any conveyance of property made with the intention of defrauding a creditor or other person is voidable by any person thereby prejudiced”. This case arose from an appeal from the Dublin Circuit Court to the High Court. [...]
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As everyone is aware in February 2013 the Irish Bank Resolution Act 2013 was enacted and a Special Liquidation Order was signed by the Minister for Finance placing IBRC ( a merger of Anglo Irish Bank and Irish Nationwide Building Society) into Special Liquidation. The Special Liquidators of IBRC then had the monumental task of [...]
