Year: 2021

FOD

Cloudy Skies: Aircraft Repossession & Detainment

17 February, 2021

As the Covid-19 pandemic shows no signs of abating and lockdowns across Europe look set to continue into the early summer, aircraft lessors and financiers have been forced to reconsider their initial strategies thought through at the beginning of the pandemic. This article sets out a brief overview of the steps a lessor or financier […]

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FBD Test Case a Significant Victory for Business Interruption Insurance Policyholders

5 February, 2021

Today, the Commercial Court has found in favour of the policyholders who challenged FBD Insurance’s decision to deny cover in respect of business interruption losses sustained as a result of the Covid-19 pandemic. The outcome of this case was highly anticipated by all FBD Insurance policyholders who had purchased business interruption cover, as well as […]

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Introduction of Negative Interest Rates by Irish Financial Institutions

17 February, 2021

For some time now, Irish financial institutions (the “Banks”) have been, or have been planning to, charge “negative interest” on corporate deposits. This is asserted by the Banks to be in response to the commercial situation in the Irish banking market and across the European Union since 2014 when the European Central Bank introduced negative […]

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Cloudy Skies: Will Ireland be an important hub
for global aviation disputes? (Updated on 19 March 2021)

4 February, 2021

Ireland’s long established position in the global aviation industry has led to many global aviation finance structures involving Irish based lessors and Irish special purpose vehicles. While the governing law for financial arrangements between financiers and aircraft lessors is generally English or New York law, Irish law often governs the suite of security documents.   […]

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The Norwegian Examinership and what it entails for the company’s creditors (Originally published on 15 December 2020)

22 February, 2021

On Monday, 7 December, the Irish High Court affirmed the appointment of an examiner, Kieran Wallace of KPMG, to a number of companies in the Norwegian Air Group  (“Norwegian”) as well as the Oslo based parent company of the group, Norwegian Air Shuttle ASA (“NAS”).  The appointment of the examiner will provide Norwegian with critical protection from its […]

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