Last Updated March 05, 2019

Law and Practice

Contributed By Walkers

Authors



Walkers is a global firm with ten substantive offices around the world. Its transactions often involve Cayman Islands, British Virgin Islands, Bermuda, Jersey and/or Guernsey legal matters, and it provides an integrated service to clients across its offices, legal systems and time zones. The finance and capital markets group in Ireland comprises a team of 23, including two listing agents. The group also includes four tax-advisers (including two tax partners) who support a number of practice areas and 16 dedicated capital markets fee-earners who spend the vast majority of their time advising on debt capital markets activity. In addition, the team works with asset finance, corporate, real estate and investment funds teams on multi-disciplinary, cross-border mandates. It is one of the largest dedicated debt capital markets teams in Ireland. The firm was a founding member of the Irish Debt Securities Association (IDSA) and sits on the Executive Council and Legal, Tax, CSP and Listing Sub-committees.

European Judgments

Regulation (EU) No 1215/2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (the "Brussels I Recast") has force of law in Ireland and, provided neither Articles 45 nor 46 of the Brussels I Recast is applicable and, subject to compliance with the procedures set out in Brussels I Recast, any judgment in relation to a document governed by the law of a EU Member State coming within the scope of Brussels I Recast and obtained in that Member State would be recognised and enforced in Ireland without retrial or examination of the merits of the case.

Council Regulation (EC) No 805/2004 of 21 April 2004 on creating a European Enforcement Order for uncontested claims (as amended) (the "EEO Regulation") has force of law in Ireland.  Provided that certain provisions of the EEO Regulation are not applicable and subject to compliance with the procedures set out in the EEO Regulation and the European Communities (European Enforcement Order) Regulations 2005 (SI No 648 of 2005) (as amended), a judgment, or part thereof obtained in an EU Member State and certified in that EU Member State as a European Enforcement Order for the purpose of the EEO Regulation would be recognised and enforced in Ireland. The EEO Regulation does not apply to arbitration proceedings.

Hague Convention and Lugano Convention

The Convention of 30 June 2005 on Choice of Court Agreement ("Hague Convention on Choice of Court Awards") has force of law in Ireland. This will be relevant in the context of enforcement of judgments given by a court in Mexico or Singapore. Ireland is a signatory to the convention on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters signed on 30 October 2007 and concluded on behalf of the European Union pursuant to Council Decision 2009/430/EC and the protocols and annexes thereto (the "Lugano Convention") will be relevant in the context of judgments given by a court in Norway, Switzerland or Iceland.

Foreign Judgments

In any proceedings taken in Ireland for the enforcement of a judgment obtained against an issuer in the courts of a foreign country (other than the EU, Norway, Switzerland, Iceland, Mexico and Singapore) (the "Foreign Judgment") the Foreign Judgment should be recognised and enforced by the courts of Ireland.

To enforce such a Foreign Judgment in Ireland, it would be necessary to obtain an order of the Irish courts. Such order should be granted on proper proof of the Foreign Judgment without any re-trial or examination of the merits of the case subject to the following qualifications:

  • that the foreign court had jurisdiction, according to the laws of Ireland;
  • that the Foreign Judgment was not obtained by fraud;
  • that the Foreign Judgment and enforcement thereof is not contrary to public policy, natural or constitutional justice as understood in Irish law or constitutes the enforcement of a judgment of a penal or revenue nature;
  • that the Foreign Judgment is final and conclusive;
  • that the Foreign Judgment is for a definite sum of money;
  • that the procedural rules of the court giving the Foreign Judgment have been observed; and
  • that the Foreign Judgment did not consist of, or include, a sum for multiple damages nor was granted on the basis of a fine or other penalty.

Arbitration Awards

The following are given force of law in Ireland subject to and in accordance with the provisions of the Arbitration Act, 2010 (the "2010 Act"):

the UNCITRAL Model Law on International Commercial Arbitration (as adopted by the United Nations Commission on International Trade Law on 21 June 1985, with amendments as adopted by that Commission on 7 July 2006);

  • Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York on 10 June 1958;
  • Convention on the execution of Foreign Arbitral Awards done at Geneva on 26 September 1927;
  • Protocol on Arbitration Clauses opened at Geneva on 24 September 1923; and
  • Convention on the Settlement of Investment Disputes between States and Nationals of Other States opened for signature in Washington on 18 March 1965, (together the "Arbitration Conventions").

Assuming the arbitration award of an arbitrator of a foreign arbitration body (a "Foreign Arbitration Award") comes within the scope of the Arbitration Conventions, and that the country in which the arbitration award will be made is a contracting state to and has implemented into its domestic law the relevant Arbitration Conventions, subject to the 2010 Act and the terms of the relevant Arbitration Conventions, a Foreign Arbitration Award should be recognised, accepted and enforced by the courts of Ireland without any re-trial or examination of the merits of such award.

Walkers Global

The Exchange,
George's Dock, IFSC,
Dublin 1,
Ireland

+353 1 470 6600

+353 1 470 6601

info@walkersglobal.com www.walkersglobal.com
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Authors



Walkers is a global firm with ten substantive offices around the world. Its transactions often involve Cayman Islands, British Virgin Islands, Bermuda, Jersey and/or Guernsey legal matters, and it provides an integrated service to clients across its offices, legal systems and time zones. The finance and capital markets group in Ireland comprises a team of 23, including two listing agents. The group also includes four tax-advisers (including two tax partners) who support a number of practice areas and 16 dedicated capital markets fee-earners who spend the vast majority of their time advising on debt capital markets activity. In addition, the team works with asset finance, corporate, real estate and investment funds teams on multi-disciplinary, cross-border mandates. It is one of the largest dedicated debt capital markets teams in Ireland. The firm was a founding member of the Irish Debt Securities Association (IDSA) and sits on the Executive Council and Legal, Tax, CSP and Listing Sub-committees.

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