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Legal market overview
Ireland has remained, post bailout, the fastest-growing economy in the eurozone. Recent reports indicate the increased liquidity of domestic buyers; over half of M&A transactions within the past year have involved Irish acquirers. There is still considerable foreign direct investment in the market, with investment funds continuing to be attracted by the country’s business-oriented tax system. Technology and software giants continue to set up offices in Dublin, and others are expanding their current operations. As a result of this and increasing confidence in the economy, the construction market has begun to grow again, with developments including Google’s new €150m data centre. In line with these trends, law firms have seen an increase in transactional work, and loan sales remain an area of particular activity, particularly those backed by real estate assets.
The widely anticipated Court of Appeal Act came into force in October 2014; this established a general Court of Appeal which sits between the High Court and the Supreme Court, and is designed to increase efficiency and improve waiting times.
Domestic firms dominate the legal market, with the past year seeing increased team sizes. Declan Black is now managing partner at Mason Hayes & Curran, while Michael Jackson was appointed managing partner of Matheson in October 2015. Multinational firms have also established themselves in the market, with many increasing their profile.
Firms in the spotlight
Flynn O’Driscoll is a business law firm focused on achieving practical business solutions for its clients. It was founded by Pat Flynn in 2002 who was joined shortly thereafter by Alan O’Driscoll. Since its formation, its main areas of practice have been corporate and commercial advice, corporate finance and mergers and acquisitions and aviation and assets finance.
GC Powerlist -
INSIGHT: Hard graft
the pan-Europe bribery crackdown
As European agencies turn up the heat on bribery and corruption, we team up with Simmons & Simmons to assess how clients are responding.
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The pharmacy sector has undergone considerable change in recent years, starting with the enactment of the Pharmacy Act in 2007. A common complaint is that pharmacists have come under increased pressure as a result of these regulatory changes and that greater administrative burdens have been imposed, for example in processing their claims under the various community drugs schemes operated by the State.
by Colin Hayes, Solicitor
by Frank O'Reilly, Partner
By Aoife Murphy, Partner and Robin Hayes, Associate
by Frank O'Reilly, Partner
On 23/06/11 the European Parliament adopted the new consumer Rights Directive which was proposed by the European Commission in 2008. This is the further step towards this Directive coming into effect. The transposition into national law is envisaged for the end of 2013.
Frequent viewers of the latest Hollywood films may be immune to it but Irish broadcasting bosses have traditionally never warmed to the idea of James Bond openly exhibiting the latest Aston Martin or BMW as part of the movie or the promotion of Absolut Vodka as part of the Sex and the City movie.
The Civil Partnership and Certain Rights and Obligations of Cohabitants Act, 2010 (“the Act”) was introduced into law on 01/01/2011. It brought into Irish law the concept of civil partnerships for same sex couples as well as certain rights for cohabiting couples.
Duncan Grehan&Partners have recently been selected to contribute to a survey carried out in all EU Member States to ascertain the practicability of the regulation 805/2004/EC.
In recent times the closure of businesses has unfortunately, become common due to trading difficulties.
Infringements of competition law or antitrust law can prove to be costly for businesses. That much is clear from the annual report for 2015 that was recently published by the Bundeskartellamt, Germany’s Federal Cartel Office.
VEGAS LEX Partner, Head of Energy practice Evgeniy Rodin has moderated a roundtable discussion on the payment discipline and ways to resolve conflicts in the housing and utilities sector, organized by the Kommersant Publishing House.
Family homes can only be passed on to one’s spouse or children free of tax if certain conditions are met. That was the verdict of the Finanzgericht (FG) München [Fiscal Court of Munich] in one of its recent rulings.
Employment law provides for the possibility of extraordinary dismissal without prior notice. However, this can only be effective if there is good cause justifying this course of action.
Germany’s federal government has settled on reforms to inheritance tax. Company heirs can continue to expect favourable tax treatment in the context of business succession.
In order to effectively issue ordinary notice of dismissal for reasons relating to conduct, it is often necessary for the employer to have previously issued a formal written warning.
Baker & Partners has been ranked in the top tier of Jersey legal firms for Dispute Resolution in the 2016 Legal 500 Index . This makes Baker & Partners the only bespoke litigation firm in Jersey operating in the top tier.
It is important to bear in mind when removing a managing director from his post for good cause that an employment relationship exists as well. These two legal relationships ought to be considered separately.
ETH Zurich was awarded the contract by the European Space Agency (ESA) for the ESA Business Incubation Centre Switzerland. The initiative was launched by the State Secretariat for Education, Research and Innovation. It supports selected young start-ups with a connection to space technologies.