Solicitor gives court undertaking not to practice
Monday October 15 2007
The Dublin-based solicitor and property developer at the centre of a ?30m property scandal has given an undertaking to the High Court that he will not practice as a solicitor.
Michael Lynn, of Michael Lynn and Co solicitors, was before the High Court this afternoon on foot of an application by the Law Society to have his practicing certificate suspended.
The complaint against Mr Lynn, originally from Mayo, is that he took out multiple mortgages on over 100 properties both here and abroad with several Irish banks
It is understood that one of Mr Lynn's colleagues became concerned about his dealings and contacted the Law Society and last week his assets were frozen.
It is believed the banks want to secure around ?30m.
The High Court President, Mr Justice Richard Johnson, today described this as a very serious matter with a 105 properties involved, 55 of those in Ireland.
Lynn's lawyers told the court that he has an ?11m insurance policy in place and that he was giving an undertaking not to practice without leave from the court.
His certificate was not suspended as yet on this basis.
He is back before the court next week.
