‘IRELAND FOR LAW’ BACKED

An Irish government-backed initiative follows a decision to block a bid by English and Welsh lawyers to preserve EU access. Ireland is encouraging US businesses with interests in the European Union to use the country as a legal base after Brexit given that it will be the only English-speaking common-law jurisdiction  left in the trading bloc. Patrick Leonard SC, who represents Ireland for Law, said: “Ireland and the US share a long and deep history and Brexit presents an opportunity for us to deepen that connection through our legal and business communities.” SOURCE: globallegalpost.com

US COMPANIES FACE EU DATA CHALLENGE

Some companies likely will have to significantly change how they secure data to continue working with European companies, under draft guidelines issued last week by the European Union that require increased privacy safeguards for information transferred outside the bloc. Businesses could be forced to adopt strict encryption practices and ensure the personal data of Europeans can’t be decrypted if companies move that information to the U.S. and other countries outside the EU, the draft rules said. SOURCE: Wall Street Journal

NORWEGIAN TURNS TO IRELAND

Norwegian Air has asked an Irish court to oversee a restructuring of its massive debt as it seeks to stave off collapse amid the coronavirus pandemic, the carrier said on Wednesday. Norway’s government on Nov. 9 rejected the airline’s plea for another injection of state funds, and the company said the following day it was at risk of having to halt operations in early 2021 unless it got access to more cash. SOURCE: Reuters

UK’S RCA BACKS TAKEOVER BID

British insurance group RSA is backing a 7.2 billion pound cash offer from Canada’s Intact Financial and Denmark’s Tryg in one of Europe’s biggest financial takeover bids this year. Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply. SOURCE: Reuters


PHOTO: Norwegian Air demonstrators in Oslo, November 18. Reuters