High Court appoints provisional liquidators to Dolphin Trust Insolvency-linked Irish firm
The High Court has appointed Ian Barrett and Shane McCarthy of KPMG as joint provisional liquidators to Dolphin MUT 116 Ltd, an Irish special purpose vehicle linked to Dolphin Trust Insolvency.
High Court Grants Wind up Order for Property Investment Firm
MUT 103 is a Special Purpose Vehicle (SPV) of Dolphin Trust now operating as the German Property Group (GPG).
Mastercard facing €22bn lawsuit over fees
One of the biggest class actions in UK history is being faced by Mastercard over card charges that were passed on to shoppers.
Payment Protection Insurance developments in the High Court
Payment Protection Insurance developments in the High Court The High Court has made some significant findings in relation to the conduct of GE Money in the sale of Payment Protection Insurance to its customers. On Tuesday, 25 August, Ms. Justice Iseult O’ Malley of the High Court delivered her judgment in an appeal by way […]
Central Bank directs insurers to raise reserves to cover injury claims
Central Bank directs Insurers to raise reserves to cover injury claims Recent reports from Central Bank have indicated that insurers will need to set out more reserves to cover car crash, workplace injuries and other claims as compensation payouts surge. An average High Court personal injury award has soared by 34% according to the Courts […]
London faces billions in Foreign Exchange forex claims following US landmark settlement
London faces billions in Foreign Exchange claims following US landmark settlement Nine major banks including Royal Bank of Scotland (RBS), HSBC and Barclays have settled a $2 billion claim brought by investors in a US court for losses caused by the rigging of foreign exchange markets. The law firm that brought the claim in New […]
Setanta Insurance
Setanta Insurance Company Limited Setanta Insurance Company Limited (“Setanta Insurance”) sold insurance policies in Ireland for seven years. The company was set up under Maltese law and in April 2014 was put in to voluntary liquidation in accordance with Maltese law. A legal issue has emerged in respect of policyholders and those seeking issue to […]
Overpayment of Variable Interest Rates
Overpayment of Variable Interest Rates Since the global financial crisis in late 2007 and the subsequent crash, the European Central Bank (ECB) has cut interest rates steadily to the current all time low of 0.05%. For holders of ‘tracker mortgages’ this has been good news, as the interest rate payable on these mortgages was contractually […]
UK Supreme Court ruling finally highlights unfair aspects of PPI contracts
The UK Supreme Court appeal arose out of a payment protection insurance (“PPI”) dispute between Mrs Plevin, the borrower, and Paragon Personal Finance Ltd, the lender. By way of background, PPI covers the borrowings on personal loans or credit cards on the occurrence of an insured event (such as sickness, injury or unemployment) and was […]
Closet Trackers; like an ordinary tracker fund except more expensive and more carelessly managed
There have been many articles appearing in financial journals in the last few months on the topic of ‘closet trackers’ a specific type of tracker fund in what has been labelled an ‘outrageous financial scam’ by some academics. A ‘tracker fund’ is an investment term and comes from the tracking function of index fund management, […]
Sunday Business Post Article on Offshore Pensions – Nov 16, 2014
offshore pensions
Transferring Pensions Abroad
Since the rules introduced by S.I 716/2003 – Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003, pension holders have been able to transfer their pension funds to an overseas arrangement. Since the pension levy was introduced in Ireland in 2011, numerous providers have advised pension holders to transfer their pensions […]