Ten banks and other financial institutions who had dealings with solicitor Michael Lynn in relation to an unknown number of properties are to pool information to try and establish the extent of the solicitor's liabilities, the High Court heard yesterday. The liabilities have been estimated at up to €50 million.

Proceedings by First Active plc and Allied Irish Banks plc against Lynn are listed to come before the Commercial Court today.

It also emerged yesterday that Irish Nationwide has initiated a separate action against another solicitor, Thomas A Byrne, practising as Thomas Byrne & Company, Walkinstown Road, Dublin. Byrne is being investigated by the Law Society and IIB Bank plc earlier this week secured court orders restraining him reducing his assets below €9 million. It is believed Irish Nationwide is seeking more than €10 million in its proceedings against Byrne.

When proceedings concerning Lynn came before the court yesterday, the Law Society, which has shut down Lynn's practise, said it needs more time to complete its investigation into Lynn's practice. Shane Murphy SC, for the society, said the investigation was ongoing and indicated a risk that different financial institutions may have claims over the same properties. The society needed to complete the process of getting information and was seeking a two-week adjournment.

The adjournment would preserve the status quo relating to the various banks, he said. The banks are concerned about who will have priority for payment in relation to situations where multiple mortgages have been taken out on the same properties.

The president of the High Court, Mr Justice Richard Johnson, agreed to adjourn the proceedings to November 8th to facilitate information exchange but stressed that information should be exchanged as quickly as possible.

Mr Justice Johnson said the information should outline the names of any other solicitors authorised, or who purported to be authorised, by Lynn's practice to give undertakings. He added the information about the various properties should be available to the banks "at the press of a button".

Paul Burns SC, for Lynn, said his client had no difficulty with most of what was proposed by the court but, in relation to preparing affidavits, the Law Society had all his client's documents. The judge told Mr Burns his client should swear what he can in an affidavit.

Ten financial institutions - Bank of Ireland and its subsidiaries; AIB; Ulster Bank; ACC Bank; National Irish Bank; IIB Homeloans; Bank of Scotland (Ireland); Irish Nationwide; First Active and Permanent TSB - were all represented in court.

Ulster Bank indicated it had an interest in 18 properties in connection with which it had dealings with Lynn while counsel for the other banks said their clients had interests in "a number" of properties.

Counsel also appeared for an individual who had dealt with Lynn in connection with the purchase of a property in August 2006. Counsel said Lynn had given undertakings to his client's solicitor but his side had been unable to register title to the property.

Lynn's wife, Brid Murphy, was separately represented. Her counsel said she had an interest in two properties, the couple's family home at St Alban's Road, Sandymount, Dublin 4, and another property with an address at Thomond Road. Both properties were in the joint names of the couple, counsel said.

AIG Insurance, Lynn's insurers, also attended the proceedings. An earlier hearing was told Lynn has total insurance cover for €11 million. It is feared his liabilities will greatly exceed that figure and they have been estimated at amounts of €26 million-€50 million.

Martin Ferris, a receiver appointed by two banks over companies associated with Lynn, was also represented in court.

John Gleeson SC, for IIB Homeloans, said there clearly was an "information deficit", not only for IIB but all the other financial institutions, in relation to Lynn's dealings. He was proposing each institution would draw up a list of properties relating to which they had loaned money to Lynn and give a copy of that list to the other institutions and to the Law Society.

Lynn should also on affidavit confirm the location of the title deeds regarding the properties, counsel said. That information was "crucial" as the banks have agreements that title deeds come back to them. It seemed Lynn had given undertakings to more than one bank but they didn't know the extent of that. Lynn had a duty to tell the court what was happening.

Mr Gleeson said that information should be exchanged within six or seven days. Mr Murphy said the IIB proposal was constructive but the timescale was perhaps unrealistic. Mr Burns indicated Lynn would co-operate but he also believed the timescale was unrealistic.

The judge said the information should be exchanged as soon as possible. He would adjourn the proceedings to November 8th and the degree of co-operation, or absence of same, from Lynn, would be noted.

The case by the Law Society against Mr Lynn was before Mr Justice Johnson, for the third time. Lynn, practising as Capel Law, is alleged to have taken out multiple mortgages on the same properties with several major Irish banks. His practice has been closed by the Law Society, his accounts have been frozen and he has been ordered to disclose a full list of his accounts and assets.

The accounts freezing orders cover accounts in the name of Lynn and various companies associated with him; Capel Law, Overseas Property Law, Kendar Holdings Ltd and Proper T Capel Ltd.