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Article: THE Commercial Court, Ireland's big business court, received new claims in excess of '300m in less than two hours yesterday morning.
- Article from:
- Irish Independent (Dublin, Republic of Ireland)
- Article date:
- October 13, 2009
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Commercial Court overwhelmed by wave of disputes
Claims worth e300m filed in just two hours
Dearbhail McDonald Legal Editor
THE Commercial Court, Ireland's big business court, received new claims in excess of '300m in less than two hours yesterday morning.
The fast-track court, set up to resolve corporate disputes in a speedy fashion, has fallen prey to a record surge in multi-million euro debt recovery actions triggered by a collapse in Ireland's property market.
The court, which became operative in 2004, was -- at its peak last year -- dealing with new applications at a rate of 10 to 15 per week.
Yesterday, there ...