Thursday, 5 September 2013
Changes to Parental Leave
Take note of the changes to parental leave brought about by the EU (parental leave) regulations 2013 which made the following provisions.
v Parents, adoptive parents and guardians with one years service, can take unpaid leave to look after their children. The new regulations extend the period of leave from 14 working weeks to 18 working weeks.
v Usually the leave must be taken before the child reaches 8 years of age but this can be extended to 16 where the child suffers from a long term illness.
v If both parents work for the same employer one of them can transfer some of the weeks to the other person.
For details on the other changes and more information on any employment law issue please contact Brendan Dillon on 2960666.
Insolvency service is up and running
There is going to be huge interest to see how the early applications for personal insolvency arrangements (PIA) work out under the new personal Insolvancy Act
The first batch of personal insolvency practitioners (PIPS) have been approved by the insolvency service of Ireland. Any application (PIA) must be conducted through a PIP.
In order for a debtor to be eligible for a PIA the following conditions must be met:
v The Debtor must be insolvent and there must be no likelihood on him/her becoming solvent within 5 years.
v The Debtor must be domiciled in the state or have been a resident for at least 1 year prior to the application being made.
v The Debtor’s debt must be all secured by a mortgage and cannot exceed €3,000,000 (unless the creditors consent).
v Debtor must have co operated for at least 6 months with the mortgage arrears process.
v The debtor is not subject to a debt settlement arrangement or debt relief notice.
v The debtor has not previously applied for a PIA.
A Few things to note:
v A creditor cannot be forced to accept a sum that is less that the value of the secured asset – the value is market value less cost of realising the asset, i.e sale.
v There are certain debts that cannot form part of a PIA – E.g. Family law maintenance payments, Criminal Court fees, damages from personal injury actions.
v Income/Lump Sum from pension can be used to pay off debts.
For further information on personal Insolvancy issues contact Brendan Dillon today. He holds a certificate in Personal Insolvency from the Law Society. 012960666/0862648280.
Thursday, 20 December 2012
The Insolvency Bill has finally passed all stages the Oireachtas and will be enacted before the end of the year. It is due to come into force by the end of March next year.
The main purpose is to provide a mechanism is to deal with the resolution of loans in difficulty ranging from €20,000.00 up to €3,000,000.00.
It is hoped that the Act will in the appropriate circumstances, bring about a level of debt write off. The Act provides for the fall back situation that if agreement cannot be reached between the debtor and the financial institution concerned that bankruptcy may be an unavoidable consequence. The bankruptcy period has been reduced from 12 years to a more manageable 3 year period although there are circumstances where this can be extended to 8 years if there has been evidence of non-disclosure on the part of the debtor.
Much of the debate in relation to the legislation has centred around the veto which Banks will have on any debt forgiveness proposal. However the reality is that the Banks will have to exercise a certain amount of commercial sense to any such proposals. If it simply refuses to agree to reasonable proposals it is possible that debtors will opt for bankruptcy and the Banks will lose out significantly on the security of its assets.
There are three personal insolvency arrangements created by the Banks;
- Debt Relief Notice which deals with debts of less than €20,000.00 where people have a very low disposable income and where they have no secured assets. It is envisaged that such debt relief notices will be negotiated directly between the debtor and the Banks.
- The second arrangement is a Debt Settlement Arrangement which deals with unsecured debt of greater than €20,000.00.
- The third element which is likely to be the most used of the three options is the Personal Insolvency Arrangement (PIA) which is aimed at those with secured assets including mortgage debt in excess of €20,000.00 but no greater than €3,000,000.00. This will only apply where there is no possibility of full repayment.
This will involve negotiations with a Personal Insolvency Practitioner who will try to negotiate an agreement between the debtor and the institution. Any such arrangements must be approved by the Circuit Court. The Minister has indicated that eight specialist Judges will be assigned to the applications.
In order for such a proposal to be approved no less than 65% of the secured lenders must agree to the PIA which will involve payments by the debtor for a period of six years.
Time will tell as to how successful this Act is going to be but it is likely to be of significant assistance to people with severe mortgage debt. We at Dillons have been advising many clients on Personal Insolvency related issues for a number of years.
For further information on the provisions of the Act or how we can assist you please contact Brendan Dillon on 01-296 0666 or firstname.lastname@example.org
Friday, 12 October 2012
WHO SAID THAT THE JUDICIARY ARE OUT OF TOUCH – SERVICE OF SUMMONS BY FACEBOOK SANCTIONED IN A RECENT CASE
In a recent Judgment delivered by Mr Justice Peart a solicitor was allowed to serve proceedings on a non resident Defendant by serving them by way of a private message on the Defendant’s Facebook page.
In this case the Defendant had left the jurisdiction and the solicitor in question was unable to serve him. The normal rules of service are that the Defendant must be served personally where it is reasonably practicable. If it is not possible to serve personally there are other modes of service which can be made by way of an application to Court i.e. by leaving the summons at the Defendant’s place of residence / workplace where it can be established that he/she is there or other applications can be made to serve by ordinary post where the Court is satisfied that the Defendant is deliberately trying to avoid service.
In this case Judge Peart was satisfied on the basis of an Affidavit submitted by the Plaintiff that exhaustive efforts had been made to locate the Defendant. The Plaintiff was also able to satisfy the Court that the Facebook page in question was both genuine and was also used regularly by the Defendant. In other words the Defendant was likely to access same and realise the existence of the proceedings.
The decision of Judge Peart follows on from other cases in the
UK and other jurisdictions such as New Zealand and the where similar Orders have been made. United States
This is a very interesting development and time will tell whether such applications could be extended to include service on LinkedIn and other forms of social media.
Tuesday, 25 September 2012
Dillon Solicitors are once again gearing themselves up for the next Allsop Space auction on the 3rd of October when one hundred and twenty seven properties will go under the hammer. This is the eighth major auction held by Allsop Space since April 2011.
Dillon Solicitors are once again offering their low entry report service where prospective buyers can purchase a title report for a payment of €250.00 plus VAT. The type of report will deal with all matters relating to contracts, title, planning, receivership issues, management company issues and all other relevant issues which prospective buyers need to be aware of.
At the October auction the majority of properties for auction are located in
. In previous auctions the majority of
properties have been apartments but of the one hundred and twenty seven lots on
offer forty three of them are houses.
There is also a substantial amount of quality commercial properties
including a number of public houses. For
further information on our auction title report service please contact us at
email@example.com or phone us on 00353-12960666. Dublin
Wednesday, 20 June 2012
Dillon Solicitors are again offering their unique auction title report service for the next Allsop Auction which will be held in the Shelbourne Hotel on the 6th July 2012.
If you or anyone with whom you do business have a requirement for contracts/ title to be inspected prior to the auction please contact us without delay.
Our service is comprehensive, quick, very cost effective and deals with the following matters;
- Report on contract
- Report on title
- Report on receivership issues
- Report on planning issues
- Report on availability of BER Certificate
And many others
For further information please contact us on 01 296 0666 or firstname.lastname@example.org