Wednesday 26 July 2017

Bank claims property is linked to fugitive solicitor Lynn

Michael Lynn faces 33 charges here related to the collapse of his property business
Michael Lynn faces 33 charges here related to the collapse of his property business

Tim Healy

LEGAL moves are underway in the High Court by a bank to secure the repossession of an apartment in Dublin which the bank says is owned by fugitive solicitor Michael Lynn.

The apartment, in the 'William Bligh' section of the Gasworks apartments in Barrow Street, has been sub-divided into two units, one of which is currently occupied by a woman and her family.

The woman has told the Irish Bank Resolution Corporation (IBRC), which is seeking possession, that the agent she rented the property from had told her it is owned by Mr Lynn and another man.

IBRC took over the mortgage on the property originally provided by Irish Nationwide Building Society, which initiated the original repossession proceedings.

In 2012, the High Court granted a possession order against Mr Lynn and a company called Fabrizia Developments.

The court had previously permitted papers in the case to be served on Mr Lynn and his foreign property company, Kendar Holdings, in both Spain and Portugal.

However, it was not until three years ago that he was discovered to be in Brazil when he was arrested.

He has since then been fighting efforts by the Irish authorities to extradite him.

Brazil's Supreme Court last September rejected his efforts to delay his extradition and he has remained in Cotel Prison in Recife. In October, IBRC finally served papers in the repossession case on Lynn via the governor of Cotel Prison.

On Tuesday, Mr Justice Paul Gilligan ruled that this method of service could be deemed good for the purposes of the service of all papers in the case on Lynn.

In an affidavit from Conor McClements, a solicitor with Arthur Cox which acts for IBRC, he said papers had also been served earlier this month on the woman occupying one of the sub-units of the Gasworks apartment.

Mr McClements said that led to the property agent contacting the solicitors for the other man who it is alleged owned it with Lynn.

Those solicitors, PB Cunningham, refused to set out the man's alleged interest in the apartment, Mr McClements said.

Mr Lynn, originally from Crossmolina in Co Mayo, fled Ireland in October 2007 with debts of €80 million. He faces 33 charges here related to the collapse of his property business on his return.

Irish Independent

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