Publication pursuant to Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit institutions 2012/C 117/04
Grade B
mapped from publisher markup. A grade says how a document's structure was obtained, not how reliable the law is.
Not the law itself: Notice
Address https://gelex.eu/eli/EU/notice/oj/C/2012/117/04@2012-04-21/en
Contents
The High Court of Ireland did on 28 March 2012 make a direction order pursuant to Section 9 of the Credit Institutions (Stabilisation) Act 2010 as amended by the Central Bank and Credit Institutions (Resolution) Act 2011, (the Act), in the following terms: Directing ILP, inter alia, to take certain steps for the purpose of effecting the sale of Irish Life Limited (Irish Life), a wholly owned subsidiary of ILP, and its subsidiaries to the Minister for Finance of Ireland (the Minister) as part of the recapitalisation of ILP; such steps include, but are not limited to, the entering into of a share purchase agreement with the Minister in respect of the entire issued share capital of Irish Life and other steps to allow for the separation of ILP’s assurance and banking businesses including completing the formation of such structures as may be necessary to facilitate such separation and entering into such agreement(s) as may be necessary to facilitate such separation. The Court did declare, inter alia, that the direction order and each and every part of it insofar as it is addressed to and is made in respect of ILP is a reorganisation measure for the purposes of Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001. Pursuant to Section 11 of the Act, an application may be made for the setting aside of the direction order, on the conditions set out therein, to the High Court of Ireland at the Four Courts, Inns Quay, Dublin 7, Ireland not later than 14 days after 30 March 2012, being the date of publication of the direction order pursuant to Section 9A(1)(b) of the Act. Pursuant to Section 64(2) of the Act, no appeal lies from the direction order to the Supreme Court without leave of the High Court. Full copies of the direction order are available from the Central Office of the High Court by e-mail to listroomhighcourt@courts.ie