Budget day has been confirmed as December 6th 2011.
It is firmly believed that the rate of both Capital Gains Tax (“CGT”) and Capital Acquisitions Tax (“CAT”) will be increased in Budget 2012, perhaps to as much as 35% from the existing rate of 25%. Many commentators believe that ultimately these taxes may even [...]
Budget 2012 Approaches
November 25th, 2011New Law for Owner Management Companies
October 18th, 2011The Multi-Unit Development Act, 2011 has made sweeping changes to the law relating to management companies within apartment and multi-unit developments. The primary aim of the Act is to ensure that common areas within multi-unit development are handed over to the owners management company in a timely manner.
Such management companies are made up of the [...]
House Repossessions Halted?
September 8th, 2011Ms. Justice Dunne’s recent High Court Judgement has effectively halted cases taken by lending institutes for repossession of mortgaged properties. The legal lacuna that was found to exist due to the repeal of 62(7) of the Registration of Title Act, 1964 means that banks are prevented from relying on this particular piece of legislation in their repossession claims.
While Chapter 3 of [...]
Increase in State Pension Age
July 28th, 2011The Social Welfare and Pensions Act, 2011 makes changes that impact on the existing State pension provisions.
In particular, for new claimants the State pension (transition) will be discontinued with effect from 1st January, 2014. As a result there will be a standard State pension age of 66 years for everyone from 1st January, 2014.
The Social Welfare [...]
DePUY ASR HIP SYSTEM
May 18th, 2011
In August 2010 DePuy announced a recall of the ASR hip replacement systems. This arose as a result of a variety of complications arising with the units post hip replacement.
It is our view and recommendation that prior to or indeed following such recall (and further surgery where recommended) patients should as soon as possible seek and [...]
Retierment of Basil Hegarty
January 12th, 2011On the 30th of November 2010, Basil Hegarty retired as a consultant to Timothy J. Hegarty & Son after 46 years in practice and will no longer practice as a Solicitor.
Basil was instrumental in bringing the firm to where it stands today, as one of Cork premier legal practices. Through his years in practice he continuously raised the [...]
Stamp Duty Changes in Budget 2011
January 12th, 2011The Minister for Finance announced certain changes in relation to stamp duty in his Budget speech on the 7th of December 2010.
NEW RATES
A new lower rate of 1% will apply to instruments where the consideration attributable to residential property does not exceed €1,000,000. A higher rate of 2% will apply to the excess of the consideration [...]
Big changes for Irish Companies entering International Commercial Contracts
August 3rd, 2010With the enactment of the Arbitration Act 2010, Irish companies will have instant access to a recognisable and internationally accepted code of international arbitration law, originally devised by the United Nations Commission on International Trade Law, and known colloquially as the ‘Model Law’.
The Act enables Irish businesses to obtain an arbitration award/judgment that can be easily [...]
New Regulations for Commercial Undertakings
August 3rd, 2010There has been much publicity following from recent events involving Solicitors Undertakings given to Banks as part of commercial transactions. The Law Society has carried out a significant consultation process with people from both inside and outside of the legal profession.
It was clear from this consultation process that there was an overwhelming support for the prohibition of such [...]
The Commercial Court
July 22nd, 2010As of the 12th January 2004 Ireland has a specialist Commercial Court handling commercial cases involving claims exceeding €1,000,000.
Rule 1 of Order 63(A) sets out the categories of case which may be admitted to the Commercial Court list, which envisage most standard commercial disputes. However, admission into the commercial list is at the discretion of the Judge of [...]
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