MHC Times Issue 29
13 January 2012
Welcome to the 29th edition of the MH&C Times.
As always, we aim to provide you with articles which are current and relevant. In this issue, we discuss the Irish Government’s policy which may result in the commercialisation of State assets, we follow the success story of the game sector in Ireland, and we look at the changes in Company Law and the next stage for Ireland’s wind energy industry.
Change is now a constant in Europe but much of this change is positive for Ireland. We officially emerged from recession in June and a number of other strong international endorsements have followed this news. Foreign Direct Investment remains strong and Ireland as a choice of location for social media businesses underscores our reputation as a social media hub for Europe. Accenture selected Dublin for their Global Analytics Innovation Centre while Google recently announced another new data centre and further expansion in Ireland.
The good news is not limited to technology. Canadian investor, Wilbur Ross, believes the Celtic Tiger economy is returning and to mark his confidence, participated in a major investment in Bank of Ireland, one of Ireland’s pillar banks. On the broader stage, Forbes magazine has declared that Ireland is the fourth best place in the world to do business.
Ireland is still a location of choice for the pharma industry and Mason Hayes & Curran recently advised on Mylan’s acquisition of Bioniche. Investment in renewable energy has never been stronger, while the Irish Financial Services Centre continues to grow with the advent of UCITS IV and the increasing on-shoring of traditional offshore business. NAMA (National Asset Management Agency) has now delivered on the process stage and we are confident that commercial real estate activity will increase significantly over the next year.
The focus on Ireland as a place to do business was reinforced by the recent visit of the American Bar Association – International Law Section – to Dublin for their Autumn meeting. The conference attracted a record number of visitors and Tony Burke, Partner, Mason Hayes & Curran, was a co-chair for the meeting. Next year, Ireland will host the International Bar Association and we look forward to repaying the hospitality that has been shown to us abroad over the years. Please visit our website for a guide to local hotels and restaurants in Ireland – www.mhc.ie/iba
We at Mason Hayes & Curran have been investing in our intellectual and physical capital to ensure that we meet the needs of our clients. In this edition of the MH&C Times, you will see examples of further recruitment at the firm. In the last two years we have recruited 47 lawyers to increase our strength-in-depth and address the evermore complex legal requirements that the new economic climate requires.
Our firm continues to be technology-focused and we have recently completed a very significant upgrade of our IT systems, improving the speed and
security of our operations. We have now a ‘best in class’ technology solution in Ireland to ensure that we can offer the highest possible service to clients. These developments would not have been possible without the on-going cooperation from colleagues and clients and I would like to take this opportunity to thank you for your support and business.
As the year draws to an end, I would like to wish you all the best for the upcoming holiday season and look forward to working with you again in 2012.