Ms Justice Hyland delivers opening address at Financial Services Bar Association Annual Conference

On 16 October, Ms Justice Hyland delivered the opening address to the Financial Services Bar Association Annual Conference 2026.  The conference theme for this year was "Loan sales: the transaction, the regulatory context and the case law".   A loan sale agreement is the transfer of a portfolio of loans from a credit institution to a credit servicer who takes control of the administration of the loan including any repayments or restructurings.  

 The conference was divided into three panels which discussed the transaction itself, the regulatory environment that surrounds it, and finally the activity of loan sale agreements in litigation.  The event took place in the Gaffney Room of the Distillery Building in Smithfield. 

 The opening address situated the conference in the current climate of loan sale agreements.  Ms Justice Hyland introduced the relevant legislation that governs these transactions, namely, EU Directive 2021/2167 on credit servicers and credit purchasers and the Irish Consumer Protection (Regulation of Credit Servicing) Act 2015 (as amended).  She discussed Ireland’s early regulation in this area and the importance it placed on protecting borrower’s rights in the backdrop of the financial crisis.

 The subsequent panels heard about the day-to-day of working in this sector in practice from facilitating a transfer from the sell side to navigating the requirements set by the regulator, the Central Bank of Ireland.  It was an insightful day that left all in attendance with a better understanding of a complex area.