by Joe O'Malley , Robbie Slattery, Michael Kelly October-15-2020 in Litigation & Dispute Resolution, Commercial & Business, Corporate

This practice note was published in association with Practical Law, Thomson Reuters online legal know how service. It provides an overview of limitation periods under the Statute of Limitations 1957 in Ireland focusing on the limitation periods most relevant for corporate, commercial and finance matters.

This note focuses on:

  • the principal statutory basis for limitation periods, the Statute of Limitations 1957 (SOL 1957);
  • specific limitation periods considering when they commence, together with examples of accrual of various causes of action;
  • the limitation period for contracts in relation to payment for works and services, guarantees and indemnities;
  • limitation periods for torts with emphasis on the limitation periods for professional negligence, damage suffered and contingent liability;
  • the status of standstill agreements in Ireland and how limitation periods can be extended and the effect of fraud, insolvency and examinerships on limitation periods;
  • the limitation periods for mortgage debts, enforcing a money judgement and how limitation periods can be extended in equity; and
  • in light of the 2019 novel coronavirus disease (COVID-19) pandemic, the note also considers its impact regarding deeds and restrictions on limitation periods.

You can access the full practice note here.

For further information on any of the issues raised in relation to limitation periods, please contact Joe O’Malley, Robbie Slattery or Michael Kelly

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