In Leahy v Doyle & anor [2016] IEHC 177, the High Court issued orders of restriction in respect of directors of two companies (Gingersnap and Scappa), under Section 150 of the Companies Act 1990 (now Section 819 of the Companies Act 2014). While the companies were different, the liquidator and the directors were the same.
Background
The Blakes Aviation group, representing the underwriters led by Morgan Stanley and Credit Suisse, is pleased to have assisted in the closing of the third Air Canada enhanced equipment trust certificate (EETC) transaction.
In April 2013, we assisted in the structuring and closing of Air Canada EETC 2013-1 for five new Boeing 777 300ERs, which was a historic transaction, including the following features:
In McAteer & anor v McBrien & ors [2016] IEHC 229, the High Court made an order restricting three directors pursuant to Section 150 of the Companies Act 1990 (now Section 819 of the Companies Act 2014). The first named respondent (A) was the husband of the second named respondent (B) and father of the third named respondent (C) and all were directors of the Company on the date of the liquidation.
Background
The High Court (Binchy J), has recently made restriction orders in respect of directors in two separate applications before it.
The Government of Canada recently introduced the Budget Implementation Act, 2016 No. 1 (Bill C-15) to implement certain initiatives announced in the March 2016 federal budget, including amendments to the Canada Deposit Insurance Corporation Act (CDIC Act).
In Murphy -v- O'Flynn & anor [2016] IEHC 197 a liquidator sought an order from the Court restricting William and Deirdre O’Flynn from acting as directors pursuant to Section 150 of the Companies Act 1990.
Applicable Law
Freeman V Bank of Scotland plc, Simon Davidson and Lloyd Daly & Associates Ltd [2016] IESC 14
This Supreme Court decision is as a result of an appeal from a judgment of McGovern J in the High Court which was delivered on 29th May 2014.
Background
In Delaney v AIB [2016] IECA 5, Court of Appeal, Peart J, 28 January 2016 the Court of Appeal held that a bank had no duty of care to advise customers on the wisdom of a commercial transaction.
Facts
In McCann -v- Halpin & anor [2016] IESC 11, the receiver applied to the High Court for directions pursuant to Section 316(1) of the Companies Act 1963, in relation to the exercise of his powers as receiver over the property and assets of Elektron and Crossplan (the Companies). The appeal before the Supreme Court dealt with one issue - whether the receiver was validly appointed.
Facts
In Farrell & Kelly v Petrosyan & Ors (linked to McLoughlin & anor v ACC Loan Management Ltd), High Court, O'Connor J, 2 March 2016 the High Court considered an application for possession on behalf of receivers appointed by ACC Loan Management Limited (ACC). One of the issues before the court was whether the receivers had authority to act in the proceedings in view of their deeds of appointment by ACC.