Solicitor Michael Lynn has been ordered to pay additional sums totalling some €5 million to three banks following proceedings in the Commercial Court yesterday.
The payments instructions are in respect of Bank of Scotland Ireland, AIB and National Irish Bank.
Mr Lynn did not oppose the orders for judgment made against him by Mr Justice Peter Kelly but his counsel, Gabriel Gavigan, said his client was not admitting any of the claims in various affidavits from the banks grounding their applications for judgment.
John Gleeson SC, for IIB Homeloans, sought judgment for some €2.57 million against Mr Lynn on grounds that Mr Lynn would not be complying with undertakings related to the loans given to him and also because there had been "a material adverse change" in his position. There was "a multiplicity of legal actions" against him and he was not practising as a solicitor.
In other proceedings, Mr Justice Kelly granted judgment for some €530,224 to Bank of Scotland Ireland against Mr Lynn relating to loans advanced by the bank concerning two properties - at Redbank, Youghal, Co Cork and Kilmainham Orchard, Dublin 8.
The judge noted the bank claimed Mr Lynn had sold on the Kilmainham property to another party without notifying the bank and without returning title deeds to the bank despite, it is claimed, an undertaking to do so.
Bank of Scotland (Ireland) earlier this week secured judgment for more than €5.75 million against Mr Lynn in relation to other loans made to him.
The judge also granted an application by AIB for orders directing Mr Lynn to pay €322,582 interest, plus costs, on loans totalling €5.85 million made by the bank to Mr Lynn. AIB had secured judgment for the €5.85 million last week but the issue of interest was put back to yesterday.
Declan McGrath BL, for National Irish Bank, then applied for judgment for €1.34 million. Granting judgment, the judge said the bank claimed it had issued a 20-year loan to Mr Lynn last February to purchase four apartments, two at Bolton Court, Dublin, one at Weston Square, Dublin and one at Custom Hall, Dublin.
The bank claimed that Mr Lynn's firm, Michael Lynn & Company, gave undertakings in relation to each property to the effect that mortgage deeds or charges would be executed and that these were the first legal charges over the properties.
However, on October 12th last, the bank said it had learned of issues relating to Mr Lynn's affairs and demanded repayment.
The bank said it had since learned from the Land Registry that the apartments at Bolton Court and Custom Hall were registered in the names of the original owners.
