Lucrative legal business is expected to leave London after Brexit and the plans, crafted by the Bar of Ireland, could see the economy boosted by hundreds of millions of euros.

But Ireland will face competition from other European countries vying for business in the wake of the UK’s departure from the EU.

The UK is the site of an enormous volume of international disputes, with about 80 per cent cases at the London Commercial Court involving foreign parties.

Much work is expected to leave the UK though as fears grow that the EU will not enforce judgments emanating from British courts as readily as it would have before Brexit.

Justice Minister Charlie Flanagan (pictured) is expected to launch the strategy next month, which will call on firms to agree to the use of Irish law to resolve disputes.

Writing in The Bar Review, Paul McGarry SC said Brexit gave Ireland a “unique opportunity” to influence international firms to use Ireland as a legal forum.

However, English language commercial courts have also been mooted in Belgium, the Netherlands, France and Germany.