Legal News (Banking & Financial Services)

As 2020 draws to a close, I would like to thank you on behalf of all at Hayes solicitors for your continued support throughout the year. 

Our update of 17 November 2020 highlighted that the European Banking Authority (EBA) was considering the status of its guidelines on payment moratoria which had been phased out at the end of September 2020.

The Covid-19 pandemic has impacted the providers of housing in a number of ways, operationally (in terms of new development, governance and ongoing operations) and financially.

The European Banking Authority (EBA) guidelines which applied to payment moratoria generally and introduced early in the Covid 19 pandemic were phased out as from 30th September 2020.

We recently outlined the importance of holding an initial meeting on a residential development transaction. It assists the parties to identify potential issues which may arise during the course of the transaction, and the solutions that may be available to resolve such issues.

Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, recently announced a €3.1 billion housing budget. Minister O’Brien noted that Budget 2021 will be the largest social housing build programme in the history of the State.