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Banking Litigation in Ireland

Banking Litigation in Ireland

Updated on Tuesday 10th May 2016

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Banking-Litigation-in-Ireland.jpgBanking litigation is a special part of the commercial litigation pillars available under the Irish legislation. Financial litigation refers to litigious cases that appear in the financial field, which is represented by financial transactions, commercial and investment banks, investment companies, insurance companies, broker agencies and any other type of company that carries out operations in this field. Our team of Irish solicitors can provide legal advice for natural persons or legal entities involved a litigation case against a banking institution.

 

Alternative dispute resolution methods in Ireland 

 
Foreign or local businessmen who are involved in a case of litigation with a financial institution should know that they can appeal, starting with 2010, to arbitration. The parties are allowed to resolve the case outside the court, but it is recommended to appeal to this measure when both of the parties are interested in settling the case in an equitable manner. 
 
From 2011, Ireland also imposed mediation as a legal procedure though which various commercial disputes can be solved, under the Mediation Regulations, provided by the European law. Mediation refers to an amicable procedure, assuming that the parties involved want to settle the legal conflict. Information offered by the parties throughout this procedure is confidential and can’t be disclosed in the situation in which the case will be brought in front of the court; our team of Irish lawyers can provide more details on these matters. 
 

Court litigation in Ireland

 
In the situation in which the above mentioned procedures do not establish an agreement between the parties, the case should be brought in front of a local court. Banking litigation cases in Ireland are usually dealt with at the Commercial Court, which is a sub-division of the Irish High Court. The Commercial Court can hear cases in which the claims have a value of at least EUR 1,000,000, as well as cases prescribed by the Arbitration Act (cases with a value above EUR 1,000,000). Our solicitors can provide assistance in case related to the breach of commercial contracts, claims arising from insolvency companies or claims related to investment funds.
 
Persons who need further information on the banking litigation procedures applicable in Ireland can contact our Irish law firm for legal assistance or legal representation.  
 

Comments

  • Adrienne 2016-05-10

    It is advisable to receive assistance of solicitors of other types of specialists for banking litigation cases, especially if the claims have a high value.

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