IFLR 1000
The Guide to the World's Leading Financial Law Firms

Ireland

Legal market overview Printer-friendly version

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A legal market guide

During Ireland's prolonged financial crisis the country's so-called 'big six' law firms have managed to keep fairly busy, advising on the raft of work resulting from the collapse of the financial system. However, for many smaller firms the picture has not been quite so rosy....

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Banking and finance

Banking

Project finance

CONTEXT AND TRENDS
Over the last 12 months the banking departments of the major Irish law firms have been primarily occupied with work in three areas; debt restructuring (renewing facilities for healthy borrowers as well as distressed work), deposit book transfers and Nama (National Asset Management Agency) related work. Some describe this as a "steady build" while another partner says "there's been an incredible surge since the end of 2011"....

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Capital markets

Capital markets – debt

Capital markets – equity

CONTEXT AND TRENDS
Ireland is experiencing an upward turn in its credit strength and some stability is returning to the capital markets but confidence remains fragile with hopes hanging on the fate of the Eurozone. In ECM (equity capital markets) things remain stagnant with the market still characteristically stressed....

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Financial services regulatory

CONTEXT AND TRENDS
Firms have beefed up the manpower of their regulatory groups since the Central Bank became the single unified regulator in respect of all financial services. The enforcement divisions are increasingly active, using their range of additional powers, which were previously limited to the withdrawal of licences, a drastic and heavy-handed measure for the more minor breach....

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Investment funds

CONTEXT AND TRENDS
Ireland like all other investment fund focused jurisdictions has had to consider the impact of the AIFMD (Alternative Investment Fund Manager's Directive), which is to be introduced next year. The directive regulates fund managers selling their funds into the EU and fund managers have been seeking advice as to their new status under it....

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Mergers and acquisitions

CONTEXT AND TRENDS
The general feeling in the Irish M&A market is one of cautious optimism. Firms are seeing new deals coming into market, an increased interest from external investors and an increased availability of credit from Irish and international banks....

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Restructuring and insolvency

CONTEXT AND TRENDS
The biggest change in the restructuring and insolvency area relates to Ireland's Personal Insolvency Bill and its proposed dramatic reduction of the maximum bankruptcy term from 12 to 3 years. The State's prediction is that this will increase the number of filings from roughly 30 a year as it stands to now to 3,000....

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See also

Ireland
Western Europe

Practice areas

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