Patrick Spicer "is a key legal and business advisor and one of our company’s best assets".
ILO Client Choice Awards

Expertise

Patrick Spicer is a senior partner in the Corporate M&A Group.

Patrick acts for a large range of international companies doing business in and from Ireland, and specialises in particular in public and private company M&A, private equity transactions, equity fundraisings, reorganisations and refinancings.

Patrick has contributed articles to many leading international legal publications, including the Irish chapter to the Private Equity Handbooks (2005-2009) published as part of the PLC Cross Border Handbooks, and the Irish chapter to the European Mergers and Acquisitions Review (published by Law Business Research).

Patrick is the 2017 International Law Office Client Choice award winner for Corporate Law in Ireland.

Experience Highlights

Patrick has advised:

Nexvet Biopharma plc on its recommended acquisition by Zoetis Inc.
Allergan on its $66 billion merger with Actavis (NYSE).
Perella Weinberg Partners LP on its role as financial adviser to US medical device maker Medtronic, Inc. on its $42.9 billion acquisition of Dublin-based Covidien plc.
Questcor Inc on the Irish aspects of its $5.6 billion merger with Mallinckrodt plc.
Apax, a major shareholder, in relation to the initial public offering by King Digital Entertainment PLC on the New York Stock Exchange, which valued the company at $8 billion.
Actavis Inc on its $8.5 billion acquisition of Warner Chilcott plc.
Eaton Corporation on its acquisition of Cooper Industries plc, valued at $11.8 billion.
William Grant & Sons Limited on the €300 million acquisition of the international spirits division of C&C Group Plc.
William Grant & Sons Limited on the sale of Carolans, Frangelico and Irish Mist brands to Italian drinks producer Gruppo Campari for €129 million.
Tokyo Electron Limited on its acquisition of Magnetic Solutions Limited.
Two leading pharmaceutical companies on their purchases of large pharmaceutical manufacturing facilities.
Xerox Corporation on its acquisition of Irish Business Services Limited.
Verint Systems Inc on its acquisition of Iontas Limited.
BC Partners on the Irish aspects of the €600 million acquisition of the Spotless Group.
EcoSecurities Group plc in defending a hostile takeover bid from Guanabara Holdings BV and the subsequent recommended offer from Carbon Acquisition Company Limited.

Accolades

Patrick Spicer is named a leading individual.
Commercial, Corporate M&A: European Legal 500 2020

Patrick Spicer has been recognised by The Legal 500 as an elite leading lawyer.
Commercial, Corporate M&A: Legal 500 EMEA Hall of Fame 2020

"Patrick is always available at any hour, he is very detailed and I like how he describes things in a language that I can understand."
Corporate: Chambers Global 2020

Patrick Spicer is named ‘Highly Regarded’
IFLR1000 2020

Patrick Spicer is named a leading individual.
European Legal 500 2019

The renowned Patrick Spicer acts on an array of mandates, including public M&A transactions and corporate reorganisations.
Corporate: Chambers Global 2019

Patrick Spicer has "great technical skills with strong network. He is also very commercial."
IFLR1000 2019

Recognised for Corporate Law, and Mergers and Acquisitions Law
Best Lawyers Ireland 2019 edition

Patrick Spicer “immediately understands the issues and the dynamics of a deal. He is extremely accessible and works well with lawyers and clients alike."
Chambers Global and Europe 2018

Patrick Spicer is named a Highly Regarded Individual.
IFLR1000 2018

Recognised for Mergers and Acquisitions Law, and Corporate Law
Best Lawyers Ireland 2018 edition

Patrick Spicer is named a leading individual.
European Legal 500 2017

Patrick Spicer stands out for his work on M&A, takeovers and refinancing. Clients appreciate that he is "extremely easy to get on with, friendly and responsive with an effective negotiating style".
Chambers Global & Europe 2017

Client Choice Award Winner for Corporate Law in Ireland
International Law Office 2017

Patrick is a "key legal and business advisor and one of our company’s best assets; he continually puts the interests of the business first and his advice is always accurate, relevant and focussed."
International Law Office 2017

Patrick's "legal advice is first class; what distinguishes him is not only his legal knowledge but the commercial awareness and experience he brings to the table."
International Law Office 2017

Patrick Spicer is named a Leading Lawyer.
IFLR1000 2017

Patrick Spicer is also recognised as a leading lawyer by a number of international legal directories including European Legal 500 and Best Lawyers.

Education

Trinity College Dublin (LLB)

New filing / disclosure obligations for partnerships and limited partnerships

May 5, 2020, 13:41 PM

The European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (the “Qualifying Partnerships Regulations”) came into operation on 1 January 2020 and amend the existing disclosure obligations that apply to partnerships and limited partnerships in Ireland.

Title : New filing / disclosure obligations for partnerships and limited partnerships

Filter services i ds : d93dea53-fd29-4993-8d78-aa62fceb44d4;a5faa30f-5dbb-45a0-ac57-91b70be7c811;

Engagement Time : 3

Insight Type : Article

Insight Date : Feb 10, 2020, 12:10 PM

1. The Qualifying Partnerships Regulations extend the requirement to file annual returns and accounts with the Companies Registration Office to a broader range of partnerships and limited partnerships.

This change will be particularly important for certain partnerships whose partners are incorporated or established outside of the EU (eg, in the Isle of Man or Jersey) that were not previously required to file annual returns or accounts.

2 Statutory background
The Qualifying Partnerships Regulations implement aspects of the Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings.

Prior to 1 January 2020, the disclosure obligations for Irish partnerships were governed by the European Communities (Accounts) Regulations 1993 (the “1993 Regulations”). The Qualifying Partnerships Regulations revoke the 1993 Regulations.

3 Disclosure obligations of ‘qualifying partnerships’
From 1 January 2020, ‘qualifying partnerships’ must file annual returns and accounts with the Companies Registration Office in a similar manner to Irish limited companies. A ‘qualifying partnership’ is partnership where all the partners (in the case of a partnership) or all the general partners (in the case of a limited partnership) are:

(a) limited companies;
(b) ‘designated ULCs’ (ie, private unlimited companies incorporated under the Companies Act 2014 that meet the criteria set out in section 1274(1) of that Act (as amended));
(c) partnerships other than limited partnerships, all of the members of which are limited companies or ‘designated ULCs’;
(d) limited partnerships, all of the general partners of which are limited companies or ‘designated ULCs’; or
(e) partnerships, including limited partnerships, the direct or indirect members of which include any combination of undertakings referred to in (a) to (d), such that the ultimate beneficial owners of the partnership enjoy the protection of limited liability.
References to a limited company, a ‘designated ULC’, a partnership or a limited partnership in the definition of a ‘qualifying partnership’ also include references to any comparable undertaking, whether governed by Irish law of the law of another country.

4 Consequences of this change
All partnerships and limited partnerships that were previously not subject to reporting obligations under the 1993 Regulations (particularly, those partnerships or limited partnerships with partners incorporated or established outside of the EU eg, in jurisdictions such as the Isle of Man or Jersey) should consider whether they meet the definition of a ‘qualifying partnership’ which is subject to the new reporting obligations established by the Qualifying Partnerships Regulations.

If you have any queries about the Qualifying Partnerships Regulations and whether those regulations apply to a particular partnership or limited partnership, please contact Patrick Spicer.

New filing disclosure obligations for partnerships and limited partnerships

Authors :

Patrick Spicer

Co Authors

Services :

Related Insights

Expertise

Related Services

New filing / disclosure obligations for partnerships and limited partnerships

Latest News

Brexit Blog: Canada-Style or Australian Terms – On or off at the Brexit table?

Matheson Advises Longitude Capital on Sale of Portfolio of Royalty Interests to HLS

Brexit – Is Equivalence a Solution for Financial Services?

Matheson Welcomes Gender Equality Award for Maynooth University Law Department