“Our robot will see you now.” In December 2015 Ogier Leman hosted the Future of Law event for 100 corporate counsel. We spoke about IBM’s Watson which is being used to build A.I. applications in several sectors, notably ROSS in law.…
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On 18 September, 2015, the US Environmental Protection Agency (EPA) issued a notice of violation (NOV) of the US Clean Air Act (CAA) to several entities. Those entities included Volkswagen AG, Audi AG and the Volkswagen Group of America, Inc.…
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On 30 July last Permanent TSB wrote to about 1,400 customers to tell them they were due compensation. The compensation is owed it said because of “…a failure which it made in connection with the management of certain mortgage…
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How borrowers can protect themselves The concerns of many developers whose loans were sold by Irish banks to foreign funds are quickly becoming reality. Banks such as Ulster Bank, IBRC and Nama are nearing completion of their loan book disposal.…
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We learnt earlier this week that the trial of Sean Fitzpatrick will begin next Monday. He was previously charged in the District Court with 12 counts of failing to disclose to auditors Ernst & Young the true value of loans worth…
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With daily news coverage of the ongoing mortgage arrears crisis and of the Brian O’Donnell case, borrowers in arrears on mortgage payments are acutely aware that their lending bank may take their family home. It’s a real concern. The number…
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A recent decision of the High Court suggests that experienced directors will not be able to avoid culpability by relying on external legal advice. In a follow up to his previous article on a director’s fiduciary duty, Ronan McGoldrick examines…
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Directors’ duties, particularly for those appointed to regulated entities in the financial services sector are onerous and becoming more so. The duties are informed by legislation including the Companies Acts and various European Regulations, common law provided on foot of…
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During the boom personal guarantees were given by numerous individuals to facilitate borrowing by corporate entities and dependent relatives. Now many of those guarantors are in difficulty and their personal guarantees are outstanding. They are trying to negotiate debt settlements…
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Cosgrave -v- Ulster Bank Earlier this month three brothers of the Cosgrave Property Group and one of their companies issued proceedings claiming more than €250 million in damages from Ulster Bank over alleged mis-selling of financial derivative instruments know as…
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A recent decision by the Supreme Court will worry lenders and holders of security seeking to rely on the strict terms of recourse clauses in facility letters. Co-borrowers named in a facility letter may not be liable after all if…
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When a borrower fails to repay a secured loan or falls into arrears various remedies are available to the lender. Repossession attempts, usually for the purpose of sale with vacant possession, are now common. And it is clear that the…
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