Legal News (Banking & Financial Services)

The Finance Act 2019 (enacted on 22 December 2019) has provided welcome clarification to transferees of fixed charges.

We have appointed a number of new hires across key practice areas, reflecting our commitment to meeting the business needs of our clients.

The judgment of Ms Justice Eileen Creedon in the Walsh v The Governor and the Company of Bank of Ireland has provided clarity to banks and other mortgagees in respect of their duties when dealing with surplus sales proceeds.

The recent Supreme Court decision in ACC Loan Management v Mark Rickard and Gerard Rickard has confirmed that a judgment creditor may apply to court to appoint a receiver by way of equitable execution over future entitlements due to a judgment debtor, such as the EU Basic Payment Scheme (“BPS”).

As we near the end of 2019, I would like to thank you on behalf of all here at Hayes Solicitors for your continued support throughout the year. Because of your support, it has been another busy year at Hayes, with lots of new developments.

In our previous text on the Irish debt landscape, we highlighted that in the wake of the recession, Ireland saw the emergence of a new wave of funding from alternative sources to the traditional banks.