A SOLICITOR who failed to honour an undertaking in relation to a €1m loan for the purchase of a property by two of his clients has been struck off for misconduct by the High Court.
Brian Johnston, formerly practising as Brian Johnston & Co Solicitors, Park Street, Dundalk, Co Louth, did not contest the striking off order against him made yesterday by High Court President, Mr Justice Nicholas Kearns.
The hearing related to a €1.08m loan given by Ulster Bank in May 2006 to two of Mr Johnston's clients to buy a property in Ballina, Co Mayo.
David Irwin, a solicitor with the Law Society's regulation department, said that as a result of Mr Johnston's actions, the clients have effectively been left with a property they could neither sell nor rent.
Ulster Bank has lost the value of its €1.08m loan and the (now former) clients had no income stream with which to pay the ever-increasing interest and mortgage arrears which were estimated at €50,000 last November, Mr Irwin said.