Key developments and materials

Irish court says US Co’s Irish units not owed treaty benefits

Law360, London: Three Irish subsidiaries cannot benefit from the US-Ireland tax treaty's provision of equally favorable treatment between US and Irish residents because their ultimate parent entity, a Delaware financial firm, is disregarded for US tax purposes, Ireland's Court of Appeal said in a judgment.

Builders merchant Grafton completes €32m tool hire business buy

Law360, London: Grafton Group plc, a building materials and construction products business, said 3 June 2025 that it has completed its acquisition of the Irish arm of HSS Hire Group plc, the British tool and equipment hire company, for an estimated for €31.6m.

Irish hotels group rejects Scandinavian €1.3bn buyout application

Law360, London: Dalata Hotel Group said late 3 June 2025 it has spurned a consortium's attempted application to buy the Irish hospitality giant in a deal worth approximately €1.3 bn.

Eight European governance chairs issue joint statement on corporate governance principles

The chairs of eight European national corporate governance code institutions met on 15 May 2025 to issue a joint statement reaffirming core governance principles. The group, including the Financial Reporting Council (FRC) chair from the UK, emphasised that governance codes should be dynamic frameworks rather than static rules. The statement addresses challenges of regulatory fragmentation and calls for principle-based frameworks that balance sustainability requirements with business agility. The chairs highlighted the need for proportionate regulation while maintaining focus on long-term value creation and competitiveness.