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State pension charges, row over Exergyn's future, and how trusts can cut taxes


Recipients of
the Irish State pension living in North America have experienced a sharp increase in the cost of receiving their benefit, due to a change in banking provider by the Department of Social Protection, reports Fiona Reddan and Ellen O’Riordan. The move follows a switch by the department from Bank of Ireland to Danske Bank.
Dublin-based Exergyn has become embroiled in a row with its own investors over the future direction of the company and a possible sale to US heating giant Carrier Global. Eoin Burke-Kennedy reports that the clean tech specialist has attracted global attention by developing and patenting an emissions-free heat pump that contains no refrigerant gases, one of the main causes of global warming. ....

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Clarence Hotel operator loses Covid business disruption case against insurer Axa


Clarence Hotel operator loses Covid business disruption case against insurer Axa     
Brushfield, trading as the Clarence Hotel, claimed it was entitled to be compensated for losses due to the lockdowns under its insurance policy.
Mon, 19 Apr, 2021 - 17:30
Ann O’Loughlin
The operator of Dublin s Clarence Hotel has lost a High Court action against Axa claiming it was entitled to cover under business-interruption insurance as a result of the Covid pandemic.
Brushfield, trading as the Clarence Hotel, claimed it was entitled to be compensated for losses due to the lockdowns under its insurance policy.
Mr Justice Denis McDonald said he had not been persuaded that cover is available under the specific terms of the Axa policy for losses as a result of the closure of the hotel and its Octagon bar in the wake of government advice on Covid.  ....

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Clarence Hotel operators tell court they're entitled to compensation for lockdown losses under their insurance policy


The operators of Dublin s Clarence Hotel claim that because one of the consequences of the Covid-19 virus is acute encephalitis - inflammation of the brain - they are covered for lockdown losses under their insurance policy for business interruption, the Commercial Court has heard.
Brushfield Ltd, trading as The Clarence Hotel, says it is entitled to be compensated for losses due to the lockdowns under its Enterprise insurance policy with AXA.
It is suing the insurance company and the agent who provided the policy, Arachas Corporate Brokers Ltd.
The defendants deny the claims and a counter-claim is being made seeking declarations including that Brushfield s losses are not covered. ....

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