Jurisdiction(s):
Ireland

Irish law legal opinions in finance transactions: purpose, conditions precedent, reliance, scope, cross-border co-ordination and typical structure

Published by a Lexis+ Ireland - Banking & Financial Services expert

Practice notes

In cross-border finance transactions, legal opinions are almost always required. They typically operate as a condition precedent to funding or to the execution of the finance documents. Their function is to inform the addressee about the legal risks inherent in the deal. Although they feature across numerous forms of financing, they can be difficult to handle from both legal and practical angles and should, therefore, be discussed and settled as early as possible in the process.

This Practice Note explains:

what legal opinions are
when they are used
who can rely on them
what they cover
how legal opinions are used in cross-border transactions
the structure of a typical opinion letter

For more information, see Practice Notes: Conditions precedent; Ireland-How to instruct and manage local counsel in a finance transaction; and How to draft and review legal opinions in loan transactions. For an example of an Irish law legal opinion, see Precedents: Ireland-Legal opinion letter: Irish borrower entering into an unsecured bilateral facility agreement and Ireland-Legal opinion letter: Irish borrower entering into a secured bilateral facility agreement.

What is a legal opinion?

...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

William Johnston

ByrneWallace LLP

William Johnston is an economics graduate of Trinity College Dublin; he qualified as a solicitor while training in McCann FitzGerald LLP and was a partner in Arthur Cox LLP for 30 years where he was head of the Financial Services Department for 16 years and Chair of the Learning and Development Committee for ten years; he is now a Consultant with ByrneWallace LLP; he was Chair of the Law Society’s Business Law Committee for two years and has lectured in the Law Society’s Diploma in Finance Law for 20 years and is currently the Law Society’s external Examiner in Banking Law and the lecturer on legal opinions in the Law Society’s Professional Course; he was a Board member of UCD’s Commercial Law Centre for six years and is a member of the editorial Boards of Commercial Law...

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...