NEW GOVERNMENT LEGISLATION PROGRAMME: INDUSTRY & SECTOR SPECIFIC BREAKDOWN 19 JANUARY 2015 The Irish Government has published its legislation programme for the Spring/Summer 2015 parliamentary session. There are 32 Bills which are currently before the Oireachtas. In addition, there are 137 proposed Bills set out in the Programme, 41 of which the Government intends publishing during the Spring/Summer Session.

The U.S. Supreme Court (SCOTUS) has denied certiorari to petitioners alleging that Aaroma Holdings LLC is liable for personal injury claims stemming from the use of diacetyl by Emoral Inc., which declared bankruptcy in 2011 after Aaroma bought its assets in 2010. Diacetyl Plaintiffs v. Aaroma Holdings LLC, No. 14-71 (U.S., cert. denied November 3, 2014). The petitioners had argued that freeing Aaroma from liability would create a loophole for companies looking to avoid tort liability by encouraging them to sell assets before filing for bankruptcy.

A divided Third Circuit Court of Appeals panel has reversed a district court ruling dismissing a shareholder’s lawsuit against individuals and a liquidating trustee involved in the dissolution of a biotechnology company and the liquidation of its assets. Schmidt v. Skolas, No. 13-3750 (3d Cir., decided October 17, 2014).

In a petition for a writ of certiorari, plaintiffs alleging harm by exposure to the flavoring agent diacetyl have argued that the Third Circuit erred in ruling that Aaroma Holdings cannot be held liable for the actions of diacetyl producer Emoral Inc., which Aaroma purchased following the alleged exposures. Diacetyl Plaintiffs v. Aaroma Holdings, No. 14-71 (U.S., petition for writ of certiorari filed July 18, 2014).

In Re Citywest Hire Ltd (In Liquidation)

Myles Kirby was appointed as Official Liquidator of Citywest Hire Limited (In Liquidation) (“Citywest”). Citywest had operated Il Segreto Restaurant on Merrion Row, Dublin 2 until late June 2013.

In January 2014, the Malta Financial Services Authority (“MFSA”) announced that Setanta Insurance Company Limited (“Setanta Insurance”) had ceased carrying on insurance business. As a result, no new business or renewals would be issued by the company, although existing policies would remain in force. 

Flanagan & Anor -v- Crosby & Ors [2014] IEHC59

In Re Home Payments Limited (In Liquidation) [2013] IEHC 507, an application for directions was made by the Joint Liquidators of Home Payments Limited for the liquidators’ remuneration, costs and expenses to be discharged from customer accounts.  Prior to its liquidation the company had operated as a nationwide household budgeting and bill paying company. 

On 15 April 2014 the European Parliament voted in favour of the European Commission initiative for a Regulation establishing a European Account Preservation Order (EAPO) to simplify EU cross-border debt recovery in civil and commercial matters. This legislation aims to establish a procedure whereby the courts of EU member states can issue orders preserving or “freezing” bank accounts across the EU without the need for any intervention by the courts of any other member state.

The High Court has confirmed that leave of the Court is required before an application can be brought to cross-examine an Official Assignee (In re Sean Dunne, A Bankrupt [2014] IEHC 113).

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