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On 28 January 2019 it was announced that the new State lender for small and medium sized developers known as Home Building Finance Ireland (“HBFI”) has opened for business with an initial €750 million which is expected to fund the delivery of up to 7,500 new homes over the next five years. The scheme aims [...]
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On the 19 November 2018 the Chief Justice Mr Frank Clarke issued a new Practice Direction regarding the use of cameras and electronic devices in Court. The aim of the Practice Direction is to provide clarity for all parties involved or attending before the Courts as to the prohibitions which apply to the use of a [...]
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The Presidents of the Circuit Court, High Court and Court of Appeal signed a practice direction on the role of McKenzie Friends in legal proceedings which came in to force on the 1st of October 2017. A McKenzie friend is a lay man, devoid of legal qualifications who may assist a litigant in Court. The [...]
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03 Nov '17
The Mediation Act 2017 was enacted on 2 October 2017 and it is anticipated that it will come in to force in the coming weeks. The main objective of the Act is to promote mediation as a viable, effective and efficient alternative to court proceedings. The benefits of successful mediation are reduced legal costs, quicker [...]
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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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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 [...]
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On the 27th of January 2015 the Central Bank of Ireland announced the scope of the eagerly anticipated regulations which will apply limits to mortgage lending by regulated financial institutions in Ireland. The new regulations introduce proportionate limits for loan to value and loan to income measurements for both primary dwelling houses and buy to [...]
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19 Apr '13
There is often a lot of uncertainty about the steps to be taken once your company has been incorporated in the Companies Registration Office (‘CRO’). In Ireland to be compliant with the Companies Acts 1963-2009, the following matters must be addressed once a company has been incorporated: 1. The company must have its own Headed [...]
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