Our Irish banking litigation team works closely with our market leading finance and banking team, ensuring that our clients benefit from strategic dispute resolution advice, founded on extensive experience and deep knowledge of banking practice and law.
The recent turmoil in the Irish economy has led to a significant increase in banking litigation. A rising number of enforcement actions have led to issues regarding the enforceability of guarantees and other securities. Issues have also arisen concerning the duty of care owed by banks to customers and clients. A number of the actions taken by banks to enforce have led to claims on against professional advisors leading to complex multiparty proceedings.
In addition to acting for financial institutions our team also has significant experience in advising borrowers and guarantors in respect of their undertakings. We have a broad experience of advising on banking matters ranging from a review of loan and security documents to the taking and defending of enforcement actions. We also offer banking clients an advocacy service whereby our solicitors will advocate their case in court, reducing trial costs.
Examples of our recent cases include:
- Acting for AIB in its successful defence of an action taken by Philip Lynch and family against it in respect of a €25million facility. This action also involved a claim by the Lynch Family against two large firms of solicitors. The case ran in the Commercial Court for 27 days.
- Advising a number of clients in respect of their negotiations with the National Asset Management Agency and advising in particular on enforcement.
- Successfully defending a guarantor against proceedings taken on foot of a defective guarantee in the sum of €14million.
- Acting for an Egyptian co-operative in an arbitration with an Irish supplier regarding the enforceability of a Letter of Credit.
Acting for the National Asset Management Agency in relation to enforcement proceedings brought against a number of different borrowers.
Clients choose us and come back to us because of our team based, commercial approach to solving their problems.