Beneficial owners of shares entitled to challenge state investment in financial institution.

May 17, 2012 By Mark Tottenham BL in Feeney J, Ireland High Court No Comments Tags: Banking law, Company law

In Re Irish Life and Permanent Ltd; Dowling v. Minister for Finance 2012 [IEHC] 89
(High Court, Feeney J, 2 March 2012)

High Court refuses preliminary application made by respondent in relation to locus standi of applicants to set aside directions order, and holds that beneficial owners of shares were entitled to make the relevant application.

Preliminary application – locus standi – application by respondent to dismiss application – s. 9 of the Credit Institutions (Stabilisation) Act 2010 – ex parte order for directions – order to facilitate investment by Minister for Finance in public More

Group of telecommunications companies granted protection of court pending examinership petition.

May 17, 2012 By Mark Tottenham BL in Ireland High Court, Kelly J No Comments Tags: Company law

In re Eircom Ltd [2012] IEHC 107
(High Court, Kelly J, 30 March 2012)

High Court grants protection of court to group of telecommunications companies and appoints interim examiner pending the hearing of examinership petition.

Examinership – petition to appoint interim examiner – protection of court – debts of €4.08 billion – inability to service debts from existing revenues – breach of financial arrangements – need to restructure debts – s. 2 of the Companies (Amendment) Act More

Liquidation of companies in British Virgin Islands recognised by Irish courts.

May 2, 2012 By Mark Tottenham BL in Ireland High Court, Laffoy J No Comments Tags: Company law, Enforcement of judgment, Private international law

In Re Mount Capital Fund Ltd [2012] IEHC 97
(High Court, Laffoy J, 5 March 2012)

High Court grants orders providing that the court recognised orders made by the courts of the British Virgin Islands in relation to the appointment of liquidators to companies.

Company law – liquidators appointed by orders of Eastern Caribbean Supreme Court – application to recover books and records of companies, and companies’ assets and property – recognition of liquidation orders – whether judgment in rem or in More

Loan of €300k to defendant was not varied by subsequent events.

May 2, 2012 By Mark Tottenham BL in Hogan J, Ireland High Court No Comments Tags: Company law, Contract law

Stapleton v. Doran [2011] IEHC 528
(High Court, Hogan J, 20 February 2011)

High Court grants declaration that a payment of €300,000 made by the plaintiff to the defendant was a personal loan and fell to be repaid.

Contract law – payment of money from plaintiff to defendant – whether money was loan to defendant or loan to company or consideration for purchase of shares in company – lack of documentary evidence – intention of the parties – fundamental More

Funds in Irish account not held for company liquidated in Caribbean.

May 2, 2012 By Mark Tottenham BL in Finlay Geoghegan J, Ireland High Court No Comments Tags: Commercial Court, Company law, Garnishee, Private international law

Fairfield Sentry Ltd v. Citco Bank Nederland NV [2012] IEHC 81
(High Court, Finlay Geoghegan J, 28 February 2012)

High Court: a) grants declaration that an order of the High Court of Justice of the Eastern Caribbean Supreme Court appointing a liquidator to the plaintiff company was entitled to recognition in Ireland; b) refuses to grant declaration that an order of conservatory garnishment in the Netherlands was entitled to recognition in Ireland; and c) refuses a decoration that funds held by a defendant in an Irish account were held to the order of the liquidator of the plaintiff company.

Liquidation of company – recognition of overseas liquidation – overseas orders of conservatory garnishment – international litigation (Madoff) – Commercial Court – funds held in Dublin account – law relating to foreign insolvencies – entitlements in More

Unlimited company could not be ordered to provide security for costs.

Apr 26, 2012 By Mark Tottenham BL in Ireland High Court, Laffoy J No Comments Tags: Arbitration, Company law, Security for costs

ABM Construction v. Habbingley Ltd [2012] IEHC 61
(High Court, Laffoy J, 15 February 2012)

High Court dismisses an application, made by a respondent to an arbitration, for security for costs to be ordered against an unlimited company.

Arbitration – security for costs – s 22, Arbitration Act 1954 – whether court had jurisdiction to order security for costs against claimant – claimant having been converted from limited to unlimited company – arbitration arising from construction dispute – s.390, Companies Act 1963 – Order 29, Rules More

Discovery granted in disqualification proceedings prior to replying affidavits.

Apr 13, 2012 By Mark Tottenham BL in Kelly (Master), Northern Ireland High Court No Comments Tags: Company law, Discovery

In Re Presbyterian Mutual Society Ltd; Department of Enterprise v. Black [2012] NIMaster 1
(High Court of Northern Ireland, Master Kelly, 26 January 2012)

Northern Irish High Court grants discovery of documentation in disqualification proceedings, prior to issue of replying affidavits.

Discovery – Order 24 Rule 7, Rules of the Supreme Court (NI) 1980 – disqualification proceedings brought against former directors – discovery sought prior to issue of replying affidavits – legal privilege – “fishing” – company in administration – Article More

No security for costs in claim for costs incurred in abandoned planning application.

Apr 5, 2012 By Mark Tottenham BL in Charleton J No Comments Tags: Company law, Planning, Security for costs

County Monaghan Anti-Pylon Ltd v. Eirgrid PLC [2012] IEHC 103
(High Court, Charleton J, 30 March 2012)

High Court refuses to order security for costs in claim for costs incurred by plaintiff company in abandoned planning application.

Security for costs – s 390, Companies Act 1963 – claim by plaintiff company for costs incurred in planning process that was abandoned by the defendant – plaintiff company unable to pay costs of action – company established to oppose routing of More

Receiver of company entitled to possession of premises.

Apr 5, 2012 By Mark Tottenham BL in Laffoy J No Comments Tags: Company law, Landlord and Tenant law, Mortgages

In Re Ravenshaw Ltd [2012] IEHC 37
(High Court, Laffoy J, 27 January 2012)

High Court determines that receiver of company was entitled to possession of hotel premises owned by subsidiary of company, and leased to company itself.

Receivership – directions from court – whether receiver entitled to enter onto hotel premises – s 60, Companies Act 1963 – whether company entitled to possession of hotel – lease of four years and nine months executed – hotel owned by company More

Beneficial owners of companies entitled to plead illegality of contract in alleged price-fixing action.

Mar 7, 2012 By Mark Tottenham BL in Charleton J No Comments Tags: Company law, Practice and procedure

Quinn v. Irish Bank Resolution Corporation Ltd [2012] IEHC 36
(High Court, Charleton J, 23 February 2012)

High Court determines, by way of preliminary issue, that beneficial owners of companies were entitled to rely on a plea of illegality of contract arising from loans by bank allegedly used to manipulate share price. (Full text.)

Commercial Court – contract law – preliminary issue – illegality of contracts – purchase by company of its own shares – price fixing – whether plaintiffs, as beneficial owners of companies, had standing to rely on breach of either the More

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All recently-published judgments of the Irish Superior Courts

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