Lynn owes banks €52m, court hears

AIB and First Active have asked the Commercial Court to order Dublin solicitor Michael Lynn to repay money he owes them.

AIB and First Active have asked the Commercial Court to order Dublin solicitor Michael Lynn to repay money he owes them.

Lawyers for the two institutions told the court they are owed a sum of more than €12 million.

Last week the Law Society closed Mr Lynn's practice after it had found acts of dishonesty in relation to clients' money.

Mr Lynn from Sandymount in Dublin 4, is believed to owe up to €52 million to at least 10 financial institutions.

The money relates to sums loaned to him in 2004 and 2005 to allow him to purchase various properties.

Mr Justice Kelly ruled that a motion for summary final judgment against Mr Lynn, an order directing him to pay the money, would be heard on November 7th.

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