Posted on 23 October 2018
The High Court has clarified the extent to which litigation privilege exists over witness statements in Irish law in a recent ex tempore judgment (i.e. a judgment which is handed down immediately after an application or hearing of a case without prior preparation) on 15 October 2018 of Mr Justice Twomey in the Madoff fraud related Commercial Court case of Defender Limited v HSBC Institutional Trust Services (Ireland) DAC.
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Posted on 18 October 2018
The financial thresholds at which the notification of a merger or acquisition to the Irish Competition and Consumer Protection Commission (CCPC) is required, are set to increase as of 1 January 2019.
From 1 January 2019, the financial thresholds which trigger a requirement to notify a merger or acquisition to the CCPC will be that, in the most recent financial year:
• the aggregate turnover in the State (i.e. the Republic of Ireland) of the undertakings involved is not less than €60 million (this threshold is currently €50 million); and
• the turnover in the State of each of two or more of the undertakings involved is not less than €10 million (this threshold is currently €3 million).
'Media mergers' as defined in section 28A of the Competition Act 2002 (as amended) will still be notifiable both to the CCPC and to the Minister for Communications, Climate Action and Environment, regardless of the turnover of the undertakings involved.
EFC welcomes the proposed increase which follows a 2017 consultation by the Department of Business, Enterprise and Innovation in respect of the Irish merger control regime. EFC made a submission to the Department’s consultation in which we advocated for the increased thresholds, and noted that there are adequate provisions in place to allow the CCPC to review non-notifiable transactions, as required.
For more information, please contact Eoghan Ó hArgáin, Head of EU, Competition and Regulated Markets