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Dispute Resolution and Insolvency Law Update: 2013 Highlights

04 March 2014

As one would expect given the economic climate, most litigation activity in 2013 has been in the area of financial services and insolvency. Our commercial litigators and insolvency lawyers have been very active in this sector and in handling related work streams such as professional negligence claims and mis-selling claims against institutions.

Highlights for 2013 included:

  • The Personal Insolvency Act 2013
  • The Bernard Madoff Funds Litigation
  • Start Mortgages Stopped

The Personal Insolvency Act 2013

The Personal Insolvency Act was signed into law by the President on 26 December 2012 and represented a radical overhaul and modernisation of Ireland’s personal insolvency law. It introduced a comprehensive and balanced regime to address personal insolvency as required by Ireland’s IMF/EU country programme…

The Bernard Madoff Funds Litigation

Thema International Fund Limited v HSBC Institutional Trust Services (Ireland) Limited and Thema Asset Management Limited   The highest value litigation in the history of the State settled a few weeks after the trial commenced in May 2013.  Thema International Fund plc. sued HSBC for in excess of US$1.1 billion…

Start Mortgages Stopped

The introduction of the Land and Conveyancing Law Reform Act 2013(the "Act") in July of this year dispelled much uncertainty for lenders stemming from the July 2011 High Court decision in Start Mortgages v Gunn.  The original decision had effectively prevented the repossession of homes through the courts…