About

‘When Irish Bank Resolution Corporation (IBRC) was placed into special liquidation in 2013, group legal could have faded into irrelevance. Thankfully, the team stepped up to the very significant challenge, displaying motivation, professionalism and standards of legal service that have contributed in a very positive way to the organisation as a whole’, says Peter Gallagher, head of legal. The team has been central to the successful strategic management of a very significant litigation caseload stemming from an ‘unprecedented’ government-mandated special liquidation that frequently involves unprecedented legal issues and is integral to the orderly winding up of IBRC in the interest of the taxpayer. They have achieved excellence in the sophisticated capture and management of legal records, such that legal information and records are accurate, up-to-date and secure. Gallagher also highlights the team’s flexibility, stating that work streams previously the preserve of others within the wider organisation now fall under legal’s remit, which has ‘placed a premium on adaptability and a pragmatic, can-do attitude’. Regulation of the financial services sector in Ireland has undergone significant change over the past eight years, after significant financial difficulties during recession. By staying close to these changes and focussing on training and development against the backdrop of a constantly evolving regulatory and legislative framework, the legal team has ensured awareness of and compliance with a more rigorous set of rules and standards.