MCFEELYS LOSE APPEAL OVER LOAN GUARANTEES - Two Irish property developers have lost a legal battle over £5m (€5.9m) in loan guarantees for a major project in London, according to the Irish Times.
The paper writes that Conal Derek McFeely and Gerard McFeely were seeking to challenge a judgment entered against them in connection with £27m borrowed from Bank of Ireland.
The Court of Appeal in Belfast yesterday refused to extend time amid a three-year delay in making the application, however.
Lord Chief Justice Sir Declan Morgan said: “The absence of a hearing on the merits is entirely due to the inaction of the applicants.”
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SUGAR TAX MAY BE CHALLENGED BY DRINKS COMPANIES – The Irish Independent reports that Government plans to introduce a controversial sugar tax in the upcoming Budget look set to be met by a high-profile legal challenge from the drinks industry.
The paper says drinks giants are preparing to follow the example set by the tobacco industry - which has already initiated court action against the Government's plan for plain cigarette packaging.
Any such legal challenge could delay the introduction of a sugar tax, which proponents say will go a long way to tackling the obesity epidemic.
According to documents published by Finance Minister Michael Noonan, a 10c levy on a can of soft drink would potentially yield €100m for the Exchequer.
A senior Government source said the move was "very much on the table" ahead of October's Budget.
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RESIDENTS OF DUBLIN DEVELOPMENT TO SHARE SMART CAR – The residents of a new, upmarket Johnny Ronan residential development in Dublin 4 will share the use of a communal smart-car, the Irish Examiner writes.
According to the paper, a company controlled by one of Ireland’s best-known developers, RGRE J & R Apian Ltd, has made clear to Dublin City Council a smart car would be available for the use of all residents at the new development.
The smart car “will be used by all residents of the proposed apartment scheme”, the development firm said. The council had sought clarification on the status of the smart car.
Planning documents filed by Mr Ronan’s firm says it’s a communal car which will be managed by the development company.
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BRITISH EUROCRAT PENSION ROW TO INTENSIFY – The Financial Times reports that the pensions of British Eurocrats are shaping up to be one of the most politically poisonous points in the UK’s Brexit talks, as the EU and London prepare to clash over liabilities running to several billion euro.
According to the paper, big staff unions in Brussels are already calling for a “League of Nations” style solution, which would see a post-Brexit Britain pay part of the EU’s €60bn worth of pension promises, just as the League’s members did when the organisation was dissolved after the Second World War.
The move sets the stage for a bruising political battle with London, which will be loath to remain on the hook for pensions that it views as too generous and the responsibility of EU institutions as the employers.
Pensions are one of many areas — from European Investment Bank projects to research funding — where complex joint liabilities with Britain will need to be unwound in Brexit talks.
