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Legal News & Publications

News and legal publications by the team at Lanigan and Clarke Solicitors in Letterkenny and Dublin. If you would like to find out more about any specific legal area, get in touch today via our contact page

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28 September 2015

Oireachtas Justice Committee recommend Bankruptcy Term should be cut to 1 year

Posted in Legislation Updates

Oireachtas Justice Committee recommend Bankruptcy Term should be cut to 1 year

The Oireachtas justice committee has recommended that the bankruptcy term should be cut from three years to one year. The move puts pressure on the Coalition to act on the issue as its previous move to reduce it to three years from 12 years was widely criticised as not going far enough. The justice committee also left open the option for some bankruptcies to be extended to three years.

07 September 2015

TV Doctor Encourages People To Sign An Enduring Power Of Attorney

TV Doctor Encourages People To Sign An Enduring Power Of Attorney

In this Sunday’s papers Dr Ciara Kelly of Operation Transformation fame encouraged all to consider choosing a Power of Attorney “in case the worst happens”.

None of us really want to think about what would happen if we were incapacitated by illness, accident or age but the reality is that we are all living longer than previous generations and whilst this is to be seen as a positive there can be associated problems.

21 August 2015

Change in Succession Law for Irish people with overseas property

Posted in Legislation Updates

Change in Succession Law for Irish people with overseas property

New EU regulation No 650/2012 came into force on the 17th August 2015 and applies to all deaths after that date.

Ireland has opted out of the regulation as have The UK and Denmark but Irish Citizens will still benefit from it if they own property in any of the 24 member states that have signed up to the regulation.

01 July 2015

Law Society Skillnet North West General Practice Update 2015 Event

Law Society Skillnet North West General Practice Update 2015 Event

The Law Society Skillnet North West General Practice Update 2015 took place at Lough Eske Castle Co. Donegal. The collaboration also known as "Donegal's cluster" was coined as a complete success by those who attended on the day.

Over 100 visitors from the Law Society Skillnet and the Donegal and Inishowen Bar Associations attended the event at Lough Eske Castle.

16 March 2015

"Trojan Work being done by Donegal Company in Examinership"

Posted in Press Releases

From the Derry People Newspaper

Judge Keenan Johnson at Donegal Circuit Court on Thursday 16th October 2014 officially appointed Sean Carr as examiner of Milford Steel Company Henry McGinley & Sons Limited.

Judge Johnson noted the trojan work being done by all parties involved in the process and also that Sean Carr, Examiner had worked tirelessly in the matter. Eithne Reid O'Doherty BL instructed by Aine Murray of Lanigan Clarke Solicitors told the court that the process had provided the company with solidity and uncertainty during this process and that the company had received very strong support from the local community, creditors, suppliers and customers alike. 

Judge Johnson said that this was a classic case of a company that was suitable for examinership and that it was important that this company had the opportunity to trade itself out of its difficulties.

This the first application for Examinership in Donegal as well as in the Northern Circuit. 

16 March 2015

Top 5 Questions asked in Bankruptcy Cases

Posted in Legislation Updates

These are the top 5 questions asked by clients when considering Bankruptcy:

Top 5 Questions asked in Bankruptcy Cases
Myth 1: “Bankruptcy can’t save your home from repossession…”

You may not necessarily lose your family home in bankruptcy. You may be able to agree a schedule of mortgage payments with your bank and the Official Assignee, where such payments are within the Reasonable Living Expenses approved by him.

If there is no equity in the family home there is no immediate interest for the Official Assignee to sell. However, if the spouse or civil partner wishes to purchase the interest of the Official Assignee, the Official Assignee in determining the purchase price will have regard to the value of the property, the amount of negative equity,  how long the property may remain in negative equity and any other relevant matter.

16 March 2015

Lanigan Clarke advise on successful Examinership

Posted in In the Courts

Thirteen jobs have been saved in Milford

Lanigan Clarke advise on successful Examinership

and there is even the prospect of new jobs being created – following a Letterkenny Circuit Court decision yesterday to take a local firm out of examinership.

The decision by Judge John O’Hagan to approve the Scheme of Arrrangement means the survival of Henry McGinley & Sons Limited and the saving of 13 jobs.

The decision is a major boost to Milford which only 12 months ago featured in the Financial Times as a village suffering the worst effects of economic downturn. 

Henry McGinley is one of the leading engineering suppliers and for structural steel and roofing in Ireland and has recently launched a number of innovative and market leading fire grates and stoves products.

Judge John O’Hagan approved the Scheme of Arrangement, and creditors will now be paid the agreed amounts.

After an emotionally charged day for the McGinley family and the Company employees, Mrs Elizabeth McGinley, Director of the Company, speaking outside the Court, thanked the creditors, the Court Service, Judges and community, both far and wide, for all their messages of support since the Examinership commenced.

Mrs McGinley also thanked the Company’s legal team, Barrister Eithne Reid O Doherty and Solicitor Ms Aine Murray of Lanigan Clarke Solicitors and the Examiners legal team Barrister Ivan Toner and Solicitor Declan McHugh of Terrance Sweeney Solicitors for all their work and efforts since examinership.

The McGinley family also acknowledged the support and loyalty of the staff over the last number of years.

Mrs McGinley paid special thanks to the Examiner, Mr Sean Carr, of Vision Accountancy, Dublin, for the most passionate, driven and hardworking individual the Company could have ever wished for.

Internationally, 25% companies that are faced with difficulty enter an examinership process compared with only 2% in Ireland. Many companies could survive if they consider examinership. Not only is this outcome good for communities throughout the country – the retention of long established businesses and employers – it’s also good for jobs.

The McGinley examinership has only ever been the fifth examinership of a company in Donegal and is one first that has availed of the Circuit Court process through examinership in the country

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Lanigan Clarke Solicitors Dublin
1 Lansdowne Gardens, Shelbourne Road, Dublin 4.
T: 01 531 3494

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6A Pearse Road, Letterkenny,
Co. Donegal.
T: 074 91 29110

 

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