We are delighted to have received the Dye & Durham Irish Law Awards – Property Law Firm/Team/Lawyer of the Year Award 2023 and wish to thank all of our clients in the property sector. We forward to acting for both our existing and new clients in many more transactions over the years.
The Irish Courts recently dealt with Directors’ duties, holding Non-Executive Directors personally liable in a case of corporate fraud even though they had been unaware of that fraud.
In Powers v Greymountain Management Limited (in Liquidation), Coates, Grainger, Cartu and Cartu [2022] IEHC 599, Mr. Powers asked the Irish High Court to find Directors personally liable in circumstances where the company had played a key role in defrauding individuals including the Plaintiff.
Mr. Powers invested his savings in an online enterprise which allegedly traded in binary options. The business informed him it was based in Dublin and the payments were to be made through Greymountain Management Limited, an Irish Company. In fact the moneys were paid to two non-nationals (the Cartu brothers) and it appears no monies were invested. The Cartu brothers controlled the company as Shadow Directors and used two Irish Non-Executive Directors to comply with Irish legislation.
The Court found the two Shadow Directors personally liable for the losses. It then considered the position of the two Non-Executive Directors and found they failed to observe the basic duties of a Director as they:-
failed to inform themselves about the nature of their duties as Director (or if they did, they ignored those duties);
failed to acquaint themselves with the Company’s affairs generally;
failed to exercise appropriate supervision or oversight at board level in respect of the execution or discharge of whatever tasks or functions had been properly and appropriately delegated to others.
The Court held that this was sufficient to impose personal liability on all of the Directors including the Non-Executive Directors notwithstanding that they had no knowledge of the fraud and had either a limited or no role in the management of the company.
This case highlights the dangers for Directors, and in particular for Non-Executive Directors, in failing to have an appropriate level of understanding of the affairs of a company. All Directors (including Non-Executive Directors) should inform themselves about the affairs of the business and exercise appropriate supervision and oversight at Board level in respect of any tasks that are delegated to others and should inform themselves of the business of a company and not leave this to others.
O’Connor LLP advises on Corporate and Commercial matters. For further information please contact us.
It is with much regret that we announce the death of our former managing partner and dear friend, John M. O’Connor, who died peacefully on 1st August 2020.
John qualified as a solicitor in the early 1950’s and became a partner in the firm of J G O’Connor & Co, Solicitors, a practice commenced by his late father. Subsequently, and for almost 20 years, he was managing partner of O’Connor Solicitors based here in our offices at 8 Clare Street, Dublin.
Away from the office, John was a keen sportsman competing in many a regatta at the National Yacht Club and was a member of Fitzwilliam Lawn Tennis Club. John also took a keen interest in rugby and was a regular spectator at Six Nations matches at Lansdowne Road.
John had an exceptional legal mind and he enjoyed nothing more than delving deep into a complex legal issue. He offered the soundest of advice to clients over a 60-year career, and his patience with less experienced colleagues who regularly relied on his vast wealth of knowledge, was renowned.
John will be very much missed by his wife Mary, his family and friends, and by those of us who had the pleasure of working with him.
Ar dheis Dé go raibh a anam
We are delighted to continue our collaboration with Thomson Reuters and once again our Partners Peter Benson, John O’Connor and Ruth O’Connor authored the Guide to Employment & Employee Benefits in Ireland: 2020 now published by Thomson Reuters. Click here to view the Guide.
For further information or clarification, please contact :
Peter Benson
peter.benson@oclegal.ie
Ruth O’Connor
ruth.oconnor@oclegal.ie
John O’Connor
john.oconnor@oclegal.ie
The COVID-19 Pandemic represents a significant challenge to individuals and businesses everywhere. O’Connor Solicitors is committed to continuing to provide services at this time. We are monitoring the situation created by the COVID-19 outbreak and we are following the advice of the National Public Health Emergency Team.
We have taken a number of steps to minimise the impact of the virus and our office remains open. In the event of any advised office closure we have systems in place to minimise disruption and work remotely. We would however ask you to copy all correspondence to us by email. Links to individual solicitors’ email addresses may be found here:
John C. O’Connor
john.oconnor@oclegal.ie
Peter Morrissey
peter.morrissey@oclegal.ie
Ruth O’Connor
ruth.oconnor@oclegal.ie
George O’Connor
george.oconnor@oclegal.ie
Peter Benson
peter.benson@oclegal.ie
Helen McGrath
helen.mcgrath@oclegal.ie
Claire Ryan
Claire.ryan@oclegal.ie
Rory O’Sullivan
rory.osullivan@oclegal.ie
Ray Gilmartin
ray.gilmartin@oclegal.ie
Collete Cassidy
collete.cassidy@oclegal.ie
As part of our ongoing investment in the business, we are delighted to announce that we are growing and strengthening our team through a merger with a long-established commercial and property practise in Dublin; Peter Morrissey & Company,
O’Connor Solicitors are delighted to be instructed by the Trustees of the Milltown Park Charitable Trust in the sale of this prime site of just over 10 acres in Ranelagh, Dublin 6. Mr Jack Devlin and Patrick Kirwan of GVA Donal O’Buachalla are agents for the sale.
O’Connor Solicitors have been selected as finalists for the Irish Law Awards 2019 in two categories :
Leinster Litigation Law Firm/Lawyer of the Year
Leinster (including Dublin) Employment Law Firm/Team/Lawyer of the Year
The award winners will be announced at a black tie event in the Clayton Hotel, Burlington Road, on the 14th of June 2019
O’Connor Solicitors are delighted to sponsor the Naomh Mearnóg Under 8’s Boys Hurling and Football Teams for the 2019 season. The boys were invited to take part in the Go Games Mini Tournament in Croke Park on the 14th April – a fantastic experience for the lads, mentors and all associated with the teams and it was a real privilege to be there. Thanks to the GAA, Littlewoods, Naomh Mearnóg and all those involved in organising and sponsoring such a super event.
Peter Benson, Ruth O’Connor, John O’Connor and Niall Enright, have authored the chapter on employment law in Thomson Reuter’s Practical Law Global Guide 2019 : “Employment and employee benefits in Ireland : Overview.”
This is a comprehensive article outlining the most up to date developments in Irish employment law which both employers and employees may find of interest. Please click here to review the article in full. If you have any queries in relation to any aspect of this article, please contact :-
Peter Benson
peter.benson@oclegal.ie
Ruth O’Connor
ruth.oconnor@oclegal.ie
John O’Connor
john.oconnor@oclegal.ie
Niall Enright
niall.enright@oclegal.ie