Monthly Archives: April 2014

Probe into Irish cargo plane accident

Air accident investigators in Britain have launched a probe into an accident at East Midlands Airport that involved an Irish cargo aircraft. A Boeing 737-400F cargo plane, operated by Dublin based Air Contractors Ltd, forced the closure of the airport yesterday morning after the jet was left crippled on the runway. The two wheels from the left side undercarriage were found some distance from where the aircraft came to a stop. The plane had previously operated in Australia for Qantas and Australian Airlines before it was converted into a freighter in 2012. Flight BCS-1748 wasflying from Paris Charles de Gaulle to East Midlands Airport and was carrying 10 tonnes of general cargo. The aircraft is capable of carrying 17 tonnes. The 39-year-old Dutch captain was confirmed to be very...
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Should injured people be provided solely with rehabilitation rather than damages?

The Association of British Insurers’ head of motor and liability James Dalton asked whether injured people should actually be provided solely with rehabilitation rather than receiving an award of damages. He said: “We need a debate about whether someone should be awarded money for a low-value, low-impact and very minor injury claims. It’s a debate about whether you should be provided with rehabilitation and no cash. That is a legitimate public policy debate for society to have and politicians to decide on.” All other things being equal, a debate would be sensible. I actually think there is a lot to be said for a no-fault approach to rehabilitation immediately after an accident. It may stop,, or at least ameliorate, some of the negative stories with which personal injury claims have become wrongly associated. Read more

Crowd control: how Ireland can benefit from a sturdy crowdfunding market #legal

Legislative opportunities

Crowdfunding is a way to raise funds for a project or venture by asking people (the 'crowd') for contributions, typically online. The gap in legislation presents a pitfall for both platforms and projects. "It also puts Ireland at a disadvantage in terms of encouraging new start-ups in the space and protecting investors," added Doyle. A legal framework or guidelines would boost mainstream acceptance of crowdfunding, provide certainty to platforms and projects, and enable Ireland to leverage its start-up community. If Ireland can sell itself as a location for trustworthy crowdfunding, it could attract more businesses and, in turn, create more jobs. One study cited by the European Commission estimates that, in Spain, 7,500 direct 'crowd-jobs' were created through some 2,800 successful crowdfunding projects. Irish legislators can either...
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House prices up Nationwide

Property sales throughout the UK surged by 32% during March and additionally vendors are likewise positive with instructions rising by 36%, a new study reveals. In general prices increased by 1% last month making the UK average £212,372, as reported by the most recent index via Sequence, with 300 estate agent branches across the country. This means a price rise of 11% annually. Within London improvement is still more robust with prices rising 2% month on month up to £457,872 and moving upward 24% on a yearly basis, the results indicate. House sales within the capital accelerated with 34% month on month. The index document in addition demonstrates home loan applications increased by 5% from March, with first time buyer home loan applications rising by 7% from...
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‘Cash for crash’ scams fuel sharp rise in insurance fraud

A surge in so-called "cash for crash" scams and fraudulent whiplash injury claims is being blamed for a sharp rise in insurance fraud detected by Britain's biggest insurer. Aviva said it discovered more than £110m worth of fraud in 2013 – up 19% on the previous year – and that it was currently uncovering 45 fraudulent claims a day. However, while policyholders submitting inflated or invented claims for supposedly stolen or damaged valuables is still an issue, Aviva said that increasingly, insurance fraud was carried out by third parties making claims against its customers – for example, for spurious injuries as a result of an accident – and also by organised gangs. A combination of factors including the challenging economic climate, the fact that many people see it as a victimless...
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House sales up by 21% in first three months of 2014

House sales in Wales have increased by 21% in the first three months of the year compared to the same period in 2013. Figures released by HM Revenue and Customs show 10,720 houses in Wales were sold between January and March. It follows the launch of the country's help to buy scheme in January. The trend suggests growing confidence in the housing market but Cardiff estate agents, Moginie James, said it was only partly down to help to buy. The UK government operates another help to buy scheme in both England and Wales. The Welsh government's is available for new build homes up to £300,000 as long as borrowers have a 5% deposit. It will provide up to 20% of the value of the property as an interest free loan. Moginie James director Nick James said...
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Discovery to make documentary on Sherpas killed on Everest

Following the mountain's deadliest disaster, many Sherpas have started descending from Everest Base Camp in a walkout, forcing companies to cancel their planned expeditions. The walkout is certain to disrupt a climbing season that was already marked by grief following Friday's disaster. Sherpa guides were hauling climbing gear between camps when a chunk of ice tore loose and triggered an avalanche. 'It gives us a sense of responsibility because we are there and have the resources and wherewithal to tell the story,' she said. 'We want to have the right tribute.' Ogwyn said in an interview on Tuesday that while he agreed with the decision to end his project, he hopes to jump off Everest sometime in the future. Sherpa teams were preparing the climb for several expeditions,...
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Foreign purchases of Spanish properties highest in nine years

Foreign investment in Spain’s housing market in 2013 was the highest for nine years, at €6.45 billion (US$8.95 billion), up 16% on the previous year, according to the Bank of Spain. British nationals were the biggest buyers with 15.1% of total foreign residential property purchases.  The French bought 9.84%, the Russians 8.58%, and Belgians with 7.26%. Foreign investment helped the rate of house-price falls slow to 7.8% last year, compared to a price decline of 15.1% in 2102.  Spanish home prices are now declining by only 4.1% per annum.  But sales of new housing units fell by 37.4% year-on-year to February, according to the National Institute of Statistics. Spain, Europe’s fifth-largest economy, has witnessed a drop of up to 40% in home prices since 2007. Due to restricted credit, withdrawal of...
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The Rising Score of Youth Sports Head Injury Claims

Last year, the NFL agreed to settle a concussion lawsuit filed by former players for $914 million. As concussion-related lawsuits continue to be filed against professional sports teams, equivalent claims and litigation will soon be seen in a variety of youth sports and non-professional organized sports leagues, according to partner Robin Dusek, a member of Freeborn & Peters Insurance/Reinsurance Industry Team. A study released last year by the Institute of Medicine (IOM) that focused on young athletes five to 21 years old, found that concussions rates were higher among high school athletes than college athletes in certain sports, including football, men’s lacrosse, soccer and baseball. via The Rising Score of Youth Sports Head Injury Claims....
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Pensions Update – Spring 2014 #legalupdate

This update contains summaries of two recent practical court decisions which provide confirmation that trust law in Ireland relating to trustee decision making, related responsibilities and potential liability for breach of trust is consistent with previous expectations. These decisions while welcome do not change the position as it was previously understood. As such they provide a significant degree of comfort that provided that trustees act in good faith, having taken appropriate professional advice, the Courts are very unlikely to interfere with their decisions. To the extent that there is anything novel in the two decisions, the most significant confirmation is that, as a general principle, it is appropriate for trustees to take into account arrangements being made outside the scheme for active members. We also provide an update on further EU regulation,...
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