Chairman, Council of the Bar of Ireland Paul McGarry SC addressed the Seanad Special Select Committee on the UK’s withdrawal from the European Union today, outlining potential implications for civil justice issues from hard and soft Brexit scenarios.
In a session of the Seanad Select Committee which focused on the implications for the Irish economy which may arise from Brexit, Paul McGarry SC pointed to the opportunities for Ireland in the area of legal services but also to the challenges that are likely to arise in the area of civil law given the deep economic and personal ties Ireland has with the United Kingdom.
Given that the Treaties, Regulations and Directives of the European Union determine civil justice in so many diverse areas, the departure of the UK from the EU will have wide raging implications for Ireland, he said.
In particular Paul McGarry SC detailed areas of concern under the following headings; Civil jurisdiction and the recognition and enforcement of foreign judgements; Financial services and insurance; and Insolvency.
“There are many other areas where citizens’ rights could be affected, such as the right to provide or receive legal services, immigration law, employment law, consumer law, patents, intellectual property, competition law and tax law,” he said.
In the absence of agreement between the European Union and the UK in civil justice matters, businesses and individuals will have to fall back on pre-existing international treaties and long-standing rules of public and private international law. “This is likely to give rise to increased cost and uncertainty in the conduct of commerce between the EU and the UK,” he added.
The departure of UK from the EU will also provide many opportunities for increased trade in legal services in Ireland, specifically from the international sector. Currently the UK is the second largest market for legal services globally, accounting for some 10% of global legal service fee revenue and 20% of European legal service fee revenue. When it departs the EU, Ireland will be the only English-speaking common law jurisdiction and this will help attract financial and other service industries into Ireland, providing an opportunity to increase the market for legal services in Ireland.
“The potential rewards to the Irish economy are very significant,” Mr McGarry said. “If Ireland becomes a place in which international litigation and arbitration is routinely carried out, it inevitably enhances the reputation of Ireland as a place to do business, particularly for the type of financial service providers that are now considering a move from London.”
To read the full submission by The Bar of Ireland to the Seanad Special Select Committee on the UK’s withdrawal from the European Union click here.