THE IRISH government’s alleged failure to implement a directive giving lawyers the right to easily register and work in Ireland has led the European Commission (EC) to threaten potentially enormous daily recurring fines.
Brussels has sent Dublin a final warning letter that tells it to comply with a European Court of Justice ruling from last December, that it should transpose Directive 98/5/EC on the establishment of lawyers onto its statute book.
The EU legislation, which was supposed to have been implemented by March 2000, allows lawyers to set up in a member state and practise the country’s law upon proving previous registration as a lawyer in another EU country without having to take a test or probationary period.
It also says that a lawyer who has practised there for three years can enter professional bodies and acquire the country’s professional title.
Finance deals round-up
Slaughter and May (Stephen Powell, Dermot Rice, Graham Airs) advised Equity Release Funding (No 3) on its issue of £462m of mortgage-backed notes securitising a portfolio of equity release mortgages originated by Norwich Union Equity Release. Slaughters also advised Norwich Union. The deal was arranged by Citigroup, represented by Freshfields Bruckhaus Deringer. Herbert Smith (Jason […]