In 2013 the Companies (Miscellaneous Provisions) Act was enacted and provided for small companies to apply for examinership in the Circuit Court as well as the High Court. The intention of this Act was to reduce the cost of seeking examinership protection, albeit that the work required to be done by the parties involved remained exactly the same as in the High Court. In the following year, only 6 companies availed of examinership through the Circuit Court and the level of Circuit Court examinerships has remained low.
16 May 2017
In two Supreme Court judgments both delivered on 2 December 2014, Noreside Construction Limited -v- Irish Asphalt Limited  IESC 68 and James Elliott Construction Limited -v- Irish Asphalt Limited  IESC 74, the Court rejected Irish Ashphalt Limited’s claims, made in a bid to limit its liability for defective goods supplied, that the terms and conditions on its delivery dockets were incorporated into its contracts for supply.
06 Mar 2017
A policy statement issued by the Central Bank of Ireland on 31 January 2017 means that some small investment firms and credit institutions supervised directly by the CBI may no longer need to pay a proportion of variable remuneration in instruments or defer the payment of variable remuneration as required under Directive 2013/36.
21 Feb 2017
Central Bank of Ireland Publishes Report on Themed Inspection of Compliance with Fitness & Probity Regime for Credit Unions
The Central Bank has published a report on the outcome of its inspection of the implementation of the Fitness & Probity Regime by credit unions.
21 Feb 2017
The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 (S.I No. 560 of 2016) (the ‘Regulations’) impose new obligations on Irish companies and other incorporated bodies (such as ICAVs, listed UCITs and most AIF investment companies) to take immediate measures to compile a ‘beneficial ownership register’. The Regulations are the latest measure introduced to combat money laundering and terrorist financing. The Regulations transpose Article 30(1) of the European Union’s Fourth Money Laundering Directive (Directive (EU) 2015/849 (the ‘Directive’)) into Irish Law.
16 Feb 2017
Application of Unfair Dismissals and Minimum Notice and Terms of Employment Legislation to Directors
The Employment Appeals Tribunal recently determined in the case of Reddy & Reddy v Hyper Trust Limited (EAT Determination of 23 January 2017) that the former directors of a company were not employees for the purposes of the Unfair Dismissals Acts, 1977 – 2007 and the Minimum Notice and Terms of Employment Acts, 1973 – 2005.
02 Feb 2017