Enforcing Tainted Contracts
This article was originally published in the May edition of the International Financial Law Review.
Banks and other financial institutions operate in a highly regulated environment. Issues frequently arise where an institution has breached a regulatory requirement but seeks to enforce its contractual rights; for instance, where there is a regulatory breach in the formation of a loan contract and the institution seeks to recover the
loan or enforce security for the loan. The legal issues which arise are complicated.
In a recent decision (Quinn v IBRC  IESC 29), the Irish Supreme Court indicated the general approach the courts should take.
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