Firm Profile > Maples Group > Dublin, Ireland

Maples Group

Banking and finance Tier 1

Maples Group's 'strong and experienced' team stands out for its significant offering in the fund finance space, with clients including a number of international funds and large asset managers. The group is also highly experienced in property and development finance, project finance, corporate and leveraged finance, and syndicated lending. It acts on high-profile matters in the domestic market, as well as handling cross-border transactions. Elizabeth Bradley and Sarah Francis co-head the team with Alma O’Sullivan, who has particular expertise in loan sales, fund finance and real estate finance. Senior associate Vanessa Lawlor is also noted.

Practice head(s):

Elizabeth Bradley; Sarah Francis; Alma O’Sullivan

Other key lawyers:

Vanessa Lawlor


‘The Maples team were excellent to deal with right from initial engagement through to completion. Throughout the engagement they were always available to discuss any issues which arose, offering proactive solutions which allowed us to deal with things quickly and ultimately bring the process to a successful conclusion.’

‘Sarah Francis was extremely practical, responsive and pleasant to deal with. She guided us through a challenging transaction in a pragmatic manner, going above and beyond to complete under a tight deadline. I would have no hesitation in recommending her and look forward to working with her again. ’

‘The team at Maples is very strong and experienced. The individuals that you are dealing with at the beginning of the transaction remain the point of contact throughout which is very beneficial for clients. The banking and finance team have excellent knowledge of their practice area and are able to predict their client’s needs. It is clear that the team have a wealth of experience through a number of complex transactions and this proves invaluable. The team are very personable as well as professional which always makes working with them a positive experience.’

‘Maples’ banking and finance practice differentiates itself primarily through providing market-leading advice and first-class client service at a competitive price point. While it is a relatively small team, it gives the impression of being much bigger.’

‘We have worked with Elizabeth Bradley on a number of transactions and have the utmost confidence in her judgement and advice. Liz is a very high-quality lawyer with an easy communications style.’

‘Alma O’Sullivan is professional, knowledgeable, efficient and dealt effectively with any issues arising.’

‘The Maples team consists of experts in their subject matter. They take the stress out of bank loan negotiations by taking the lead and bringing the client’s wishes to the table rather than working to a prescribed format between two legal firms.’

‘Sarah Francis, Elizabeth Bradley, Alma O’Sullivan and Vanessa Lawlor are all very competent, knowledgeable, efficient and decisive, providing a lot of confidence to the client in the way they go about the job at hand.’

Key clients

Allied Irish Bank, plc.

The Governor and Company of the Bank of Ireland

Ulster Bank Ireland DAC

Real Estate Loan Management

Madison International Realty

Marathon Asset Management, LP

Goldman Sachs International

Urban Volt Limited


Fortress Investment Corp LLC

Tristan Capital Partners LLP

Nuritas Limited

Lloyds Bank plc

HSBC Bank plc

HSBC Invoice Finance

Bain Capital Credit

Barclays Bank PLC

Legal & General Assurance Society

New Fortress Energy

Golub Capital Markets LLC

National Westminster Bank Plc

Teamwork Holdings Limited

Commercial, corporate and M&A Tier 1

Maples Group's 'commercially practical' corporate team has extensive experience of advising technology companies and is also noted for its specialist expertise in the healthcare sector, acting on major domestic and cross-border M&A deals in these fields. The team also has significant strength in private equity transactions. The practice is jointly led by global head of corporate Edward Miller and Colm Rafferty, who is skilled in advising venture capital and private equity investors. Corporate finance specialist Patrick Quinlan and Deirdre MacCarthy, who regularly advises innovation-driven enterprises, are also recommended.

Practice head(s):

Edward Miller; Colm Rafferty

Other key lawyers:

Patrick Quinlan; Deirdre MacCarthy; William Darmody


‘The team I deal with strikes the right balance of being experienced but without being inflexible. They have a can-do attitude and a first-rate response time. They are also commercially practical and good value, without cutting corners or compromising on quality.’

‘Patrick Quinlan is helpful, plain speaking, very responsive and a pleasure to work with. Colm Rafferty acted on the other side of a transaction to me but he was results focused and just as dedicated and high quality as Patrick.’

‘Will Darmody is a clearly trusted associate. He is very reliable and productive. I can trust Will with speaking with clients directly.’

‘The Maples Dublin team have the inside track when it comes to advising tech companies in an M&A scenario.’

‘Colm Rafferty is excellent and provides high-quality, right on the button advice.’

‘The team is comprised of lawyers who, first and foremost, are commercial. They understand the need to balance risk with commercial objectives and advise accordingly and this has proved valuable to our successful relationship with the firm.’

‘Patrick Quinlan has worked with us for a number of years, understands our business and risk appetite and his advice is always well received. Transaction management, the ability to negotiate without causing friction in the relationship with the other side, and timeliness are key strengths of Patrick’s that we value immensely.’

Key clients

Access Control Real Estate

Advanced Manufacturing Control Systems

Air Transat


Altify (previously called The Target Account Selling Group)




Argos Soditic

Arista Networks


Assa Abloy


Beats Medical


Bio-Medical Research (t/a Slendertone)



Buymie Technologies



Cantor Fitzgerald

Carav Holdings

Cardinal Carlyle

Carroll’s Meats

Cashel Fund plc




Clavis Insight

Clean Communications Limited

Conrad Hotel

Core Computer Consultants Limited


Credit Bank of Moscow

Credit Suisse



Digital Marketing Institute


Draper Esprit

Equity Zen


Fieldaware Group Limited


First Analysis



Gael Form Limited

GC Aesthetics

Greenfield Global

Greyhound Waste + Recycling

GW Plastics

Gym Plus Coffee

Harkness Screens

Home Store + More

Houghton Mifflin Harcour

Construction Tier 1

The construction team at Maples Group advises on all aspects of the construction process, acting for developers, contractors, and financers. The team draws on the wider firm's client base of international investment funds to assist with the acquisition and development of property in Ireland. In addition to handling office developments, the practice is particularly active in the growing area of private rental schemes. The team is also noted for its work in construction disputes, frequently acting in adjudications. The 'exceptional' Mary Dunne leads the team, with a specialism in project finance, while Enda O’Keeffe and Kevin Harnett are known for their contentious work.

Practice head(s):

Mary Dunne

Other key lawyers:

Enda O’Keeffe; Kevin Harnett


‘We worked with Kevin Harnett and senior associate Niamh Mulherin. Kevin presents a high degree of competency which in the litigation context is very reassuring. I feel he is a safe pair of hands who is happy to take on board ideas and comments from others and thinks very well on his feet. He is very ably assisted by Niamh Mulherin who is very much on top of the detail and also comes across as very competent. ’

‘The Maples team has not just one or two construction legal experts but several. This results in a team that is in a position to learn from each other and provide best practice advice.’

‘Kevin Hartnett is precise, clear and unequivocal with his advice. He has a brilliant turn of phrase. He is always on the end of the phone when I call.’

‘We consult Maples for advice on a range of issues pertaining to our consultancy work. Our primary engagements with them is in civil engineering construction on a variety of contracts (small, medium and large scale) covering conditions of contract, terms of engagement and contract administration, including dispute resolution procedures. Their overall level of service is excellent. The advice is always to the point, demonstrating a thorough knowledge and understanding of the matter referred. Their responses are timely on the queries raised. ’

‘We would list Mary Dunne in particular as exemplary in reflecting all of the above qualities in our consultations with her. Mary is extremely knowledgeable and approachable on all construction related matters. Her advice is clear and to the point and is always available when needed. Mary is a person we highly value having on our side.’

‘Very diligent, extensive experience, and strong commercial acumen.’

‘Mary Dunne is exceptional. Her attention to detail combined with her market knowledge makes for both strong commercial and legal outcomes in both our DD and documentation. ’

Key clients

Abestos Capital Partners

Allied Irish Banks

AMP Capital Investors UK Limited

Apollo Management International LLP

Ardmac Limited

Ashurst LLP


BAM Contracting Limited

Bank of Ireland

Caffe Nero Ireland Limited

Cairn Homes Plc

Cardinal Capital Group Limited

CareChoice Group Limited

Chandos Investments Plc

Clúid Housing Association

Collen Construction Limited

Construction Industry Federation

Deutsche Bank

Deutsche Borse AG

Deutsche Hypothekenbank

Duggan Brothers (Contractors) Limited

Durkan New Homes Unlimited Company

Eagle Horizons Limited

Earlsfort Centre Hotel Proprietors Limited

EGIS Lagan Services Limited

Ennis Property Finance DAC

Ferrovial Agroman (Ireland) Limited

G. & T. Crampton

Gas Networks Ireland

Goldman Sachs

Grant Thornton Limited

Green Reit PLC

Greenfield Global Limited

Grid Network Services Ireland

GW Plastics Limited


Irish Asphalt Limited

Irish Water

JJ Rhatigan

John Paul Construction Limited

John Sisk (Holdings) Limited

JSL Group (Stewart Construction)

K&J Townmore Construction Limited

Kane Group Building Services Limited

Kerrigan Sheanon Newman

Kohlberg Kravis Roberts & Co.

Lagan Clare Joint Venture

Lagan Holdings

Laing O’Rourke Ireland Limited

Lugus Capital Advisors


Marathon Asset Management

Marchford Limited


McKeon Group

Michael Slattery & Associates

Midland Construction & Engineering Limited

MMD Construction Limited

Multi Ireland

Murphy International Limited

Mythen Construction

New Century Engineering Limited

Newmarket RVAM No 2 Limited

Oaktree Capital Management Limited

Obrascon Huarte Lain SA

Passage Healthcare

PJ Hegarty & Sons

Precision Construction Limited

Regan Civil Engineering Limited

Sisk Steconfer JV

Somague Engenharia SA

St Stephen’s Green Funds ICAV

Tifco Limited

Townlink Construction Limited

Transdev Ireland

Transport Infrastructure Ireland

Tristan Capital Partners LLP

Ulster Bank

Vision Contracting Limited

Walls Construction Limited

Wills Bros Civil Engineering Limited

Zhol Sapa LLP

BCP Asset Management

Dublin Aerospace Limited

Hogan Lovells (Paris) Limited

Revelate Capital Limited

Sanigest International

TJ O’Connor & Associates

Twin Point Capital

Muckle LLP

Quinn Industrial Holdings DAC

Palm Capital Partners

Investment funds Tier 1

Advising UCITS management companies and AIFMs relocating to Ireland post Brexit is a key area of expertise for Maples Group's 'responsive' team, which has been highly active in advising leading asset managers on the establishment and authorisation of their operations in Ireland, as well as acting for an extensive roster of Irish serviced funds. The sizeable team, which also draws on the support of the Cayman and London offices, is led by Peter Stapleton, who has notable experience in the ESG and sustainable finance space. Stephen Carty and Philip Keegan are key contacts in the area of fund regulation, and the firm further expanded its financial services regulatory offering with the arrival of Lorna Smith from Matheson in January 2021. Ian Conlon and Eimear O’Dwyer are also recommended.

Practice head(s):

Peter Stapleton

Other key lawyers:

Stephen Carty; Ian Conlon; Eimear O’Dwyer; John Gallagher; Adam Donoghue; Deirdre McIlvenna; Pádraig Brosnan; Philip Keegan; Lorna Smith; Aaron Mulcahy; Ronan Cremin; Niamh O’Shea


‘Responsive team with deep knowledge about the Irish fund industry, and commercial questions affecting hedge funds in general.’

‘John Gallagher is very responsive and on top of industry trends. Always finds excellent commercial solutions to the most challenging issues. Highly recommended.’

‘Exceptional knowledge of the investment funds industry sector.’

‘Ian Conlon has excellent expertise, and provided excellent support in dealing with investors.’

‘Eimear O’Dwyer is a leader in her field.’

Key clients

Amundi Ireland Limited

Neuberger Berman

HarbourVest Partners (Ireland) Limited

Sagard Holdings

Kepos Capital

Brilliance Asset Management

8F Aquaculture ICAV

Starz Real Estate

Domain Capital ICAV

Selwood Asset Management LLP

Portolan Capital Management

StepStone Global

Marcho Partners

Qube Research & Technologies

Troy Asset Management

Kontiki Asset Management

Bain Capital Credit

Marshall Wace

Blackstone Alternative Asset Management / Blackstone Group

Man Group

CVC Capital Partners

Kohlberg Kravis Roberts & Co (“KKR”)



Merian Global Investors

Odey Asset Management

Northern Trust Asset Management

Coronation Fund Managers

Guggenheim Partners

Winton Capital

IAM Investments

Waterfall Asset Management


Marathon Asset Management

Artisan Partners

Deutsche Bank

Insight Investment

Tudor Capital

Nippon Value Investors

Sanderson Asset Management LLP

Nomura Investment Solutions plc

Innocap Investment Management Inc.

UBS Asset Management (UK) Limited

Principal Global Investors

Sanlam Investment Management Holdings

Sector Asset Management

Avestus Capital Partners

TPG Global


Credit Suisse

Morgan Stanley

Goldman Sachs

Banco Santander International

IPM Informed Portfolio Management AB

Cardinal Capital Group

36 South Capital Advisors

Lansdowne Partners

Invest AD



AKO Capital

Arctic Fund Management

Earnest Partners

Emso Asset Management

Spire Partners

Asset finance Tier 2

'A strong presence for legal services in the aviation market', Maples Group advises leading financial institutions and aircraft lessors on a wide range of matters in the aviation finance space, including ABS and portfolio sale and acquisition transactions. Led by Donna Ager in London and James Kinsley in Singapore, the team is experienced in handling complex, cross-border matters, and clients benefit from the firm's presence in key aviation jurisdictions as well as its corporate services offering. Mary O’Neill, who is particularly experienced in ABS matters, is the key contact in Dublin.

Practice head(s):

Donna Ager; James Kinsley

Other key lawyers:

Mary O’Neill; Eoin O’Leary


‘Very good depth of knowledge in the asset finance Dublin team, particularly on Irish and English law issues.’

‘Donna Ager, Mary O’Neill and James Kinsley stand out.’

‘Recognised as a strong presence for legal services in the aviation market and work closely with their corporate service capabilities. Geographical coverage in areas used by the aviation industry is key.’

‘The Maples asset finance team have coverage in all the relevant markets, ensuring there is truly global reach. Crucially the team is consistent, experienced and can always be relied upon.’

‘Good relationships with numerous clients, especially aircraft lessors, funds and banks. Ability to act in other offshore jurisdictions such as the Cayman Islands as well as Ireland, and ability to provide a wide range of corporate services as part of a single package.’

‘Donna Ager knows the market back to front, is highly responsive and very commercial.’

Key clients



ABL Aviation



Air Asia

Bain Capital

Cross Ocean Partners

Deucalion (MLFG)

Deutsche Bank



Airbus Financial Services

Avolon Aerospace

Novus Aviation

DVB Bank


Aeroflot Russian Airlines

Dubai Aerospace Enterprise (DAE) Ltd.

Investec Bank

Infinity Transportation

Elix Aviation Capital

JP Morgan

China Exlm

Santander Bank SA

SMBC Aviation Capital

Societe Generale

Sky Leasing



Flight Lease

Waterfall Asset Management


Capital markets Tier 2

Securitisation and structured finance are key areas of strength for Maples Group's 'responsive and practical' team, which has significant expertise in CLO structuring and transactions, acting for a large number of collateral managers. The team, which is assisted by the firm's fiduciary services division, MaplesFS, on regulatory matters, is also increasingly active in high-yield bond issuances, non-performing loan portfolio transactions and fund-linked structures. Practice head Stephen McLoughlin has particular experience in securitisation matters, and the 'extremely knowledgeable' Callaghan Kennedy is also a key contact. Patrick Quinlan leads the ECM practice.

Practice head(s):

Stephen McLoughlin; Patrick Quinlan

Other key lawyers:

Callaghan Kennedy


‘A very focused firm that has been a fantastic specialist in its areas with great responsiveness and market context in its advice. Real team players on transactions. The seamless integration with their listing team and corporate service provider team is a real value add.’

‘Callaghan Kennedy is very helpful, responsive and market savvy. The associate bench the firm has built up over the years is very impressive and they have a great resourcing model with a very uniform level of service and culture.’

‘Responsive and practical.’

‘They have very good all-round capabilities to assist asset managers for all types of queries and structures.’

‘The team has a great deal of knowledge of funds and the most recent trends in fund finance. The entire team is very easy to work with and very knowledgeable.’

‘The team is well resourced and always available to answer questions or work on new projects at very short notice.’

‘Callaghan Kennedy is an extremely knowledgeable lawyer and handles all matters with speed, grace and creativity. He not only excels at answering technical questions but also stands out as a solutions-oriented thought leader and relationship manager. He truly makes the experience of working with him a positive one. ’

‘Stephen McLoughlin and his team are very responsive and pragmatic in their advice. They are my preferred Irish counsel. I don’t need to worry about the Irish aspects of a transaction when Stephen and his team are involved.’

Key clients

Barclays Capital

CVC Credit Partners European CLO Management LLP

Goldman Sachs International


Mizuho International

Intermediate Capital Group

Bank of America Merrill Lynch

Morgan Stanley

HPS Investment Partners LLC

Fair Oaks Capital Limited

TwentyFour Asset Management LLP

Liberty Global


BlueBay Asset Management

Spire Partners

North Wall Capital

Capital Four Management

Nomura International plc.

Guggenheim Investment Partners Management LLC

Goldentree Loan Management LP


Invesco Senior Secured Management Inc

Angelo Gordon

Draper Esprit Plc

J&E Davy

Dispute resolution Tier 2

Led by contentious insolvency expert Robin McDonnell, the practice at Maples Group handles a wide range of matters including professional negligence claims, property disputes, and breach of contract litigation. Clients include Irish state bodies and companies as well as multinationals. Other key partners in the team include Brian Clarke, Alan O’Sullivan, and Enda O’Keeffe.

Practice head(s):

Robin McDonnell

Other key lawyers:

Brian Clarke; Alan O’Sullivan; Enda O’Keeffe

Key clients

Michael McAteer and Paul McCann of Grant Thornton, Joint Administrators of Quinn Insurance Limited

A former director of the Belfry Investment Funds

The Governor and Company of the Bank of Ireland

The joint liquidators (Paul McCann and Michael McAteer of Grant Thornton) of the Treasury Holdings Group

Susquehanna International Group

James Egan and Adrian Murphy (directors of Shaw Academy Limited)

LRC Group

KC Capital Property Group Limited

Energoinvest Reach Active Limited

Carlow County Council

Feniton Property Finance DAC and PricewaterhouseCoopers

Allied Irish Banks, plc

Calibrate Real Estate Limited

D2 Private Limited and Deirdre Foley

Lagan Holdings Limited

Goldman Sachs and CarVal Investors LLC

Healthcare and life sciences Tier 2

Maples Group advises a broad life sciences client base, which ranges from innovators to multinational pharmaceutical and medical device companies, on M&A, capital raisings, and commercial contracts and licensing. The team has also deepened its expertise in regulatory matters, advising on patient programmes and the authorisation, marketing and distribution of products, and in digital health matters. Practice head Deirdre MacCarthy is experienced in cross-border M&A, corporate governance and private equity transactions in the industry.

Practice head(s):

Deirdre MacCarthy

Key clients

Greenfield Global

Bio-Medical Research

Innerstrength (t/a Tickerfit)

Beats Medical

Thera Technologies

GW Plastics


Technopath Clinical Diagnostics


Digital Mind Solutions

GC Aesthetics

Global Medical Treatment Limited (Whatclinic)

Great Point Partners

iFeel Technology Solutions Limited

Inova Health System Foundation

Luoda Pharma

Your Smile Direct

Nektr Technologies





PMD Solutions

PQ Bypass

Sebela Life Sciences

Sharp Fluidics

Luoda Pharma

3D4 Medical

Insolvency and corporate restructuring Tier 2

Maples Group is noted for its work for financial institutions, handling enforcement and litigation proceedings related to distressed loans and assets. The team also acts for both insolvency practitioners and companies in examinerships and receiverships. Robin McDonnell leads the practice and 'delivers a great service'. Associate Karole Cuddihy is another name to note.

Practice head(s):

Robin McDonnell

Other key lawyers:

Karole Cuddihy


‘We value the hands-on role taken by senior staff at partner level who are contactable 24/7 if required. Always willing to assist in the practical issues of finding other solicitors to swear documents which makes the client’s life easier.’

‘We worked with Alan O’Sullivan and Karole Cuddihy. Their level of detail in litigation/affidavits is above anything I have seen from other firms. The speed they turn around things is also well ahead of their competitors so it’s very obvious they work hard and do long hours. They also make less mistakes in the paperwork.’

‘Maples are among the top firms in the insolvency market. They have a wide and deep expertise among their lawyers and they are involved in most of the high-profile, difficult assignments in the Irish market.’

‘Robin McDonnell is a great partner and client liaison. He knows what clients wants and he delivers a great service. Karole Cuddihy is a really excellent litigator. His drafting and correspondence is brilliant and he has really valuable insights on strategy and tactics. I rate him as one of the very best insolvency solicitors in Ireland.’

Key clients

Michael McAteer and Paul McCann of Grant Thornton, in their capacity as the Joint Official Liquidators of Treasury Holdings and 15 related companies

Shaw Academy Group

Allied Irish Banks, p.l.c.

Ken Tyrrell of PwC, in his capacity as receiver appointed to Dublin Land Securities Limited

Pepper Asset Servicing

Myles Kirby

Hudson Advisors

Freddie White of Grant Thornton, in his capacity as the Liquidator of Enterprise Insurance Company plcNoHaughton & Young Limited

Real estate Tier 2

Maples Group is noted for its work for investors in the real estate sector, advising on acquisitions and disposals of individual assets as well as portfolios of properties. The team also handles asset management for these clients, including the negotiation of leases. Practice head Diarmuid Mawe is 'top quality', and Craig Kenny is another key name.

Practice head(s):

Diarmuid Mawe

Other key lawyers:

Craig Kenny; Tom O’Connor; Siobhán Fox


‘I’ve worked with Diarmuid Mawe for many years and find him excellent.’

‘Strong ability and good response time.’

‘Diarmuid Mawe is top quality.’

‘I worked with the property team at Maples recently on a proposed acquisition of a care home, involving some difficult lease issues. They were excellent.’

‘Tom O’Connor is first rate, no doubt about that, a highly impressive senior lawyer and a real pleasure to work with. Likewise all of the property team: Diarmuid Muir, Craig Kenny and Siobhan Fox.’

‘They show attention to detail, are highly diligent, and have excellent commercial acumen.’

‘Both Diarmuid Mawe and Craig Kenny are exceptional lawyers as they are highly responsive and have extensive market experience and strong commercial acumen.’

Key clients

Marlet Property Group

Marathon Asset Management LLP

Savills Investment Management


Aviva Ireland

Archer Hotel Group

Signature Capital

Irish Life Assurance plc

Green Property

Multi Ireland

Hines Ireland

Quadoro Investment GmbH

Grafton Group plc

BNP Paribas REIM

Lioncar Developments

Deutsche Borse


Tristan Capital Partners

Glenveagh Properties plc

Henderson Park

Goldman Sachs

Tax Tier 2

Maples Group is particularly active in advising international financial services clients, including investment banks, private equity firms and hedge funds, on Irish tax matters. The team is experienced in the tax aspects of corporate and structured finance transactions - with specialist expertise in CLO transactions - VAT and direct tax issues relating to investment funds, and real estate and personal tax. Andrew Quinn leads the practice; William Fogarty has 'exceptional expertise' in tax matters including Irish property and financing structures and Revenue disputes; and Lynn Cramer is particularly experienced in tax planning for international clients.

Practice head(s):

Andrew Quinn

Other key lawyers:

William Fogarty; Lynn Cramer


‘Will Fogarty provides exceptional expertise on tax matters coupled with an excellent commercial focus. Excellent availability and engagement and will proactively contact us with matters to bring to our attention.’

Key clients

HPS Partners

Apollo Global Mangement


Morgan Stanley

Marathon Asset Management

Allied Irish Bank plc

Bain Capital

Avestus Capital Partners

Waterfall Asset Management

Oaktree Capital

Guggenheim Investment Partners

Cardinal Capital Group

Projects and PPP Tier 3

Maples Group draws on its experience of the banking and finance sector to advise on the financing and refinancing of projects in Ireland, particularly PPP projects. The team advises both the lenders and borrowers on projects including hospitals, nursing homes, and private rental schemes. Mary Dunne is the practice head.

Practice head(s):

Mary Dunne


‘The team work seamlessly together across departments. Mary Dunne heading my relationship ensures smooth transactions across departmental lines. Each team excels in their knowledge and implementation of that knowledge to the needs of the client.’

‘Mary Dunne leads with exception, charisma and an approachability that is rare at the top levels of the big firms, linking that with her outstanding attention to details, knowledge and implementation of her knowledge to every challenge makes me as a client feel totally at ease with the knowledge my projects will have little to no problems. ’

‘Robust market knowledge.’

Key clients

AMP Capital Investors UK Limited

Eagle Horizons


Gas Networks Ireland


Irish Water

JB Barry and Partners Limited




Passage Healthcare

Royal Haskoning of the Netherlands (RHDHV S.A.R.L)


TJ O’Connor and Associates


Tristan Capital Partners

Twin Point Capital

Version 1 Limited


Sanigest International

Cardinal Capital Group

Palm Capital Partners

Allied Irish Banks plc

Korea Development Bank

Employment Tier 4

Maples Group advises both multinational and domestic clients on employment law matters, including TUPE, contractual disputes, and lockdown-related matters, such as the designation of employees as essential workers. The team, which is led by Karen Killalea, also handles unfair dismissal disputes for both employees and employers. It has a notably strong profile among clients in the financial services sector, as well as areas such as construction and technology.

Practice head(s):

Karen Killalea


‘Maples Group stands out as being very approachable, they listen, consider and then provide advice. This organisation’s personality is unique.’

‘We recently experienced a fatal workplace accident. This was a very difficult time. Maples were able to advise and guide us through the regulatory accident investigations while providing real human support for our employees involved. They made a tangible difference in giving comfort to our employees as they presented for investigation interviews while balancing this with the expertise necessary to represent the company and the employees.’

‘Karen Killalea at Maples was exceptional throughout my engagement. Karen was thorough, took instruction superbly and was very transparent from the outset managing my expectations. Karen showed genuine empathy and excellent emotional intelligence in her dealings with me. She was very accessible and direct to ensure my case moved along swiftly. Karen did a great job in outlining my options for instruction, the risks associated with each and also the likely thinking of the opposing side. I could not recommend Karen and Maples enough.’

‘Very personal case by case work. Exceptional’

‘Our contacts in Maples really got to know our business before they made recommendations. This was invaluable at arriving at the correct outcome.’

‘Very professional service, although personalised to customer needs. You feel you are the most important client to them. Taking calls, emails outside of normal working hours and in fact even on holiday.’

‘The Maples Dublin team always provides excellent, high-quality advice.’

‘Karen Killalea is always super responsive and provides excellent, commercially savvy advice in all situations.’

Key clients

Colas Contracting Limited

Buymie Limited

Innovative Interfaces Inc.

GSJ Maintenance

The Maples Group, through its a leading international law firm Maples and Calder, advises global financial, institutional, business and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg. With offices in key jurisdictions around the world, the Maples Group has specific strengths in areas of corporate commercial, finance, investment funds, litigation and trusts. Maintaining relationships with leading legal counsel, the Group leverages this local expertise to deliver an integrated service offering for global business initiatives.

Department Name Email Telephone
Managing Partner Nicholas Butcher +353 1 6192025
Head of Employment Karen Killalea +353 1 619 2037
Asset finance/aviation Donna Ager +44 20 74661712
Asset finance/aviation Mary O'Neill mary.o' +353 1 619 2105
Head of Dispute Resolution & Insolvency Robin McDonnell +353 1 6192726
Commercial Litigation & Dispute resolution Alan O'Sullivan alan.o' +353 1 619
Dispute resolution Brian Clarke +353 1 619 2042
Commercial Litigation dispute resolution Enda O'Keeffe enda.o' +353 1 619 2051
Commercial litigation/dispute resolution Kevin Harnett +353 1 619 2036
Projects & Construction Mary Dunne +353 1 619 2021
Corporate Edward Miller +353 1 619 2028
Corporate Patrick Quinlan +353 1 619 2028
Corporate Deirdre MacCarthy +353 1 619 2754
Corporate Colm Rafferty +353 1 619 2058
Structured Finance / Debt Capital Markets Stephen McLoughlin +353 1 619 2736
Structured Finance / Debt Capital Markets Callaghan Kennedy +353 1 619 2716
Employment James Scanlon +353 619 2061
Banking and Finance Sarah Francis +353 1 619 2753
Banking and Finance Elizabeth Bradley +353 1 619 2737
Banking and Finance Alma O'Sullivan alma.o' +353 1 619 2055
Tax Lynn Cramer +353 1 619 20 66
Investment Funds Peter Stapleton +353 1 619 2066
Investment Funds Stephen Carty +353 1 619 2023
Investment Funds Deidre McIlvenna +353 1 619 2064
Investment Funds Adam Donoghue +44 30 7466 1711
Investment Funds Eimear O'Dwyer eimear.o' +353 1 619 2065
Investment Funds Ian Conlon +353 1 619 2714
Investment Funds John Gallagher +353 1 619 2073
Listing services Ciaran Cotter +353 1 619 2033
Property Diarmuid Mawe +353 1 619 2050
Property Craig Kenny +353 1 619 2765
Tax Andrew Quinn +353 1 619 2038
Tax William Fogarty +353 1 619 2730
Tax David Burke +353 1 619 2779
Investment Funds Aaron Mulcahy +353 1 619 2104
Investment Funds Philip Keegan +353 1 619 2122
Investment Funds Niamh O'Shea niamh.o' +353 1 619 2722
Investment Funds Ronan Cremin +353 1 619 2756
Photo Name Position Profile
Ms Donna Ager  photo Ms Donna Ager Donna is head of Maples and Calder’s European Aviation team and is…
Ms Elizabeth Bradley  photo Ms Elizabeth Bradley Elizabeth is a partner of Maples and Calder’s Banking and Finance team…
Mr Stephen Carty  photo Mr Stephen Carty Stephen is a partner of Maples and Calder’s Funds & Investment Management team in…
Mr Brian Clarke  photo Mr Brian Clarke Brian is a partner of Maples and Calder’s Dispute Resolution & Insolvency…
Mr Ian Conlon  photo Mr Ian Conlon Ian is a partner of Maples and Calder’s Funds & Investment Management team…
Mr Adam Donoghue  photo Mr Adam Donoghue Adam is a partner of Maples and Calder’s Funds & Investment Management…
Ms Mary Dunne  photo Ms Mary Dunne Mary is a partner in Maples and Calder’s Projects & Construction team…
Mr William Fogarty  photo Mr William Fogarty William is a partner of Maples and Calder’s Tax team in the…
Ms Sarah Francis  photo Ms Sarah Francis Sarah is a partner of Maples and Calder’s Banking team in the…
Mr John Gallagher  photo Mr John Gallagher John is a partner of Maples and Calder’s Funds & Investment Management team…
Mr Kevin Harnett  photo Mr Kevin Harnett Kevin is a partner of Maples and Calder’s Dispute Resolution & Insolvency…
Mr Callaghan Kennedy  photo Mr Callaghan Kennedy Callaghan is a partner of Maples and Calder’s Finance team in the…
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Mr Karen Killalea  photo Mr Karen Killalea Karen is head of Maples and Calder’s Employment team in the Maples…
Ms Deirdre MacCarthy  photo Ms Deirdre MacCarthy Deirdre is a partner in Maples and Calder’s Corporate team in the…
Mr Diarmuid Mawe  photo Mr Diarmuid Mawe Diarmuid is head of the Dublin Commercial Property team at Maples and…
Mr Robin McDonnell  photo Mr Robin McDonnell Robin is head of the Dublin Dispute Resolution & Insolvency team at…
Mr Stephen McLoughlin  photo Mr Stephen McLoughlin Stephen is head of the Dublin Finance team at Maples and Calder,…
Mr Edward Miller  photo Mr Edward Miller Edward is global head of Maples and Calder’s Corporate group, and co-head…
Ms Eimear O'Dwyer photo Ms Eimear O'Dwyer Eimear is a partner of Maples and Calder’s Funds & Investment Management…
Mr Enda O'Keeffe photo Mr Enda O'Keeffe Enda is a partner of Maples and Calder’s Dispute Resolution & Insolvency…
Ms Mary O'Neill photo Ms Mary O'Neill Mary is a partner of Maples and Calder’s Asset Finance team in…
Mr Alan O'Sullivan photo Mr Alan O'Sullivan Alan is a partner in the firm’s Commercial Litigation and Dispute Resolution…
Ms Alma O'Sullivan photo Ms Alma O'Sullivan Alma is a partner of Maples and Calder’s Banking team in the…
Mr Patrick Quinlan  photo Mr Patrick Quinlan Patrick is a partner in Maples and Calder’s Corporate team in the…
Mr Andrew Quinn  photo Mr Andrew Quinn Andrew is head of Maples and Calder’s Tax team and is based…
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Mr Peter Stapleton  photo Mr Peter Stapleton Peter heads Maples and Calder’s Funds & Investment Management team in the Maples…
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Banking and finance law in Ireland and the outlook for 2021

2020 was set to be another year of growth and of increased interest in developing areas such as green loans and fund finance, as lawyers and other finance professionals eagerly awaited to see how Ireland could capitalise on the fallout from Brexit.

No one could have predicted Covid-19 and the huge impact it would have on global markets and life more generally. While initially the pandemic created huge volatility and uncertainly, on the whole, financial markets and transaction volumes (in certain sectors, at least) proved incredibly robust in 2020.

Now, as vaccination rates across the world continue to rise and as lockdown restrictions are lifted, it will be interesting to see if there will be a return to ‘business as usual’ or whether Covid-19 has changed the market irreversibly.

The following is an overview of the banking and finance market in Ireland and the outlook for 2021.


Any commentary on finance law in Ireland would be not be complete without an examination of the effects of the pandemic on the day-to-day work of the legal profession. Overnight we saw an immediate switch from transaction execution to negotiation of payment deferrals and waiver of covenant breaches as businesses of all sizes and across most sectors struggled with their cash flow.

Elizabeth Bradley, Banking partner, Maples Group

Unsurprisingly, as the pandemic deepened, businesses who could not adapt or refinance had no option but to seek corporate restructuring. Many sought the short term protection of examinership, while many more ceased operating completely. There were 575 corporate insolvencies in 2020, an increase of just 1% from 2019, and figures for Q1 2021 are down 30% on the same period last year. These figures likely do not tell the whole picture however, with rating agencies forecasting an increase in non-performing loans for 2021 and the true scale of the problem likely only to be revealed as the Government phases out their pandemic-related supports.

The pandemic created new opportunities for lawyers as the Government stepped in to stabilise the economy offering a range of financial supports to businesses. The largest state-backed loan guarantee scheme in the history of the Irish state, the Covid-19 Credit Guarantee Scheme (the Scheme), offers an 80% guarantee to facilitate up to €2bn in lending to participating small and medium sized enterprises.

Though participation in the Scheme was initially limited to just the three ‘Pillar Banks’ (Allied Irish Banks plc, Ulster Bank Ireland DAC and Bank of Ireland), time has seen further participation from a broad range of lenders including credit unions and ‘alternate lenders’. With the Scheme extended until the end of 2021, the Government expects even more alternate lenders to sign up in the coming months. Lawyers had to quickly familiarise themselves with the intricacies of the Scheme in order to provide legal advice to both applicant lenders under the Scheme and underwriters of loans / peer-to-peer lenders.

Mark Murran, Banking associate, Maples Group

Certain sectors of the economy were more insulated from Covid-19 than others and the Maples Group’s banking and finance team were, during 2020, involved in a number of re-financings for the Irish pillar banks and international lenders, particularly in the IT and pharma sectors, where borrowers were able to take equity off the table.

Consequently, there were less ‘new money’ lending deals during this time and where there were, they were more in the nature of revolvers in order to provide a level of protection given the uncertain times. However by Q4 of 2020 we saw a return to lending activity in the Irish market, which has continued to gain pace into Q1 and Q2 of 2021. The Maples Group’s banking and finance team have been involved in new financings in, amongst others, the real estate investment sector as well as in the development finance space and, in particular, the leveraged corporate space. The latter has experienced high volumes of activity since the beginning of 2021, likely due to pent-up investor appetite to invest capital and take advantage of new opportunities arising as a result of Covid-19.

Funds financing

Both funds and finance lawyers alike have been closely watching the progress of the long awaited reforms to the Investment Limited Partnership Act 1994 (the 1994 Act) since its introduction. The reforms were intended to align the Irish investment limited partnership (ILP) more closely with the well-established limited partnership structures in other international funds domiciles such as the Cayman Islands and Luxembourg.

Covid-19, together with a change in Government delayed the enactment of the Investment Limited Partnership (Amendment) Act, 2020 (the 2020 Act) which was eventually signed into law on 23 December 2020 with all of its provisions having commenced by 1 March 2021. The 2020 Act amended the 1994 Act in a number of important ways that are expected to make the ILP a very compelling regulated EU fund vehicle for private equity / credit, sustainable investments and other closed-ended alternative funds.

The ability to establish ILPs as umbrella funds, with segregated liability between sub-funds and to migrate partnerships into and out of Ireland on a statutory basis together with the clarification of rights and obligations of limited partners are just some of the important reforms which it is hoped will increase the attraction of ILPs in Ireland to international managers and investors.

The Maples Group advised on the first ‘new ILP’ to receive authorisation from the Central Bank of Ireland under the 2020 Act. This brings the total number of ILPs registered in Ireland to date to seven, the other six being registered under the 1994 Act, just serving to highlight the flawed nature of the 1994 Act and the importance of the reforms contained in the 2020 Act.

We expect the numbers of new ILPs to increase during the year and while we do not expect the implementation of the 2020 Act to change the financial landscape overnight, it is worth contrasting the introduction of the updated ILP with that of the Irish Collective Asset-management Vehicle (ICAV) in the Irish market some five years ago. Though we expect the overall number of ILPs will be less than ICAVs (because of the broader range of product categories and asset classes that an ICAV can accommodate), we anticipate that ILPs will have a proportionally bigger impact and create much more downstream work for a range of legal and other professionals across the corporate, tax and finance sectors.

This is welcome news to legal practitioners as, though funds finance work in Ireland has remained somewhat insulated from the effects of the pandemic generally, the 2020 Act sets the foundations for continued growth in this space in the future. With Ireland having positioned itself as one of the major players in the creation and management of investment funds worldwide and with the benefit of the 2020 Act, we expect to see ILPs increasingly involved in fund financing transactions.

Environmental, social, and corporate governance (ESG)

Reinforced by the impact of the Covid-19, 2020 saw the EU continue to push towards a harmonised framework for sustainable finance. The EU Regulation on the Establishment of a Framework to Facilitate Sustainable Investment (which is more commonly referred to as the Taxonomy Regulation), adopted in June 2020, sets out an EU-wide classification system and provides a common method for investors to identify environmentally sustainable economic activities and encourage private investment in those activities.

The Taxonomy Regulation forms part of the EU’s Sustainable Finance Action Plan which also includes the Sustainability Disclosures Regulation and the Low Carbon Regulation. These new initiatives will require large listed companies, banks and insurance companies to publish information on how, and to what extent, their activities align with those considered environmentally sustainable in the EU taxonomy. In order for an economic activity to qualify as environmentally sustainable, it has to substantively contribute to at least one of the six environmental objectives set out in the Taxonomy Regulation.

Investors are increasingly looking to align their investment decisions with their personal priorities. Investors are now not only focused on financial returns but also on non-financial outcomes. Asset managers are embracing ESG in order to align stakeholders’ interests and avoid short-term investments and results, in favour of long-term incentives aligning investment practices with social responsibilities and principles in order to meet investor demands.

The move towards sustainable finance in Ireland is particularly important in light of Project Ireland 2040 which sets out the Government’s long-term strategy for developing Ireland’s infrastructure over the next 20 years, including an investment package of €116bn in the years to 2027 with climate change objectives to fundamentally shape public capital investment choices across a range of sectoral areas. The National Treasury Management Agency has raised in excess €5bn through their Irish Sovereign Green Bonds since their initial issue in October 2018.

Irish pillar banks Allied Irish Banks plc and Bank of Ireland have, in recent times, issued their first ‘Green Bonds’ raising €1bn and €750m respectively. The proceeds of these Green Bonds are to be exclusively applied to the finance or re-finance of new and/or existing projects that will promote progress on environmentally sustainable activities. In fact our banking and finance team, supported by our property and construction teams, acted on one of these green financings recently.


With a Brexit deal being struck with not a minute to spare, the transition period ended at 23:00 on 31 December 2020 and the United Kingdom officially left the European Union. Many were looking forward to putting the protracted break up behind them, however the financial services sector did not feature heavily in the negotiation and the last minute deal only references it in a minor way.

The UK and EU Trade and Cooperation Agreement (the TCA) which was signed on 30 December 2020 and entered into force 1 May 2021 was sparse on details when it came to financial services. The TCA had no provisions for passporting or an equivalence framework. However, both sides entered into a Joint Declaration on Financial Services Regulatory Cooperation at the same time as concluding the TCA, where they agreed to finalise the terms of a Memorandum of Understanding (the MOU) by the end of March which would lay the foundations for continued negotiation and cooperation between the UK and the EU. The text of the MOU was agreed on 26 March 2021 and though not available for public scrutiny or yet signed by the parties, it is a welcome step in the right direction signalling a strong intention for collaboration in 2021.

On the ground we have seen an influx of financial services firms to Dublin with Barclays, Bank of America and BNY Mellon all having announced investments in Ireland which are connected to Brexit. As many as ten UK and international law firms have followed, opening offices in the Irish capital or stating their intention to do so. This is in clear contrast to the years immediately following the Brexit referendum where the Law Society of Ireland saw a huge increase in the number of Brexit refugee solicitors enrolling but not practicing in Ireland.

It is estimated that the total number of job relocations across the financial services sector from the UK since the referendum is almost 7,600, with Dublin being the most popular destination in Europe. No doubt there are more jobs to come and the presence of international banks, assets managers and insurers in Ireland is set to drive competition and propel Ireland to new levels of economic activity.

Outlook for 2021 and beyond

Though we don’t have a crystal ball, we have seen a very strong start to the year and forecast continued growth throughout 2021. The economic impact of Covid-19 will not be truly understood until later this year when lockdown restrictions are lifted in Ireland and the very last person is vaccinated. How long any hangover might last is unclear, but what we can say is that, Ireland is poised to take advantage of every opportunity that presents itself and it’s highly skilled and hardworking labour force, including its finance lawyers, are more than up to the challenge.