AIB says Lynch family liable for €25m debt

AIB has told the Commercial Court it is not contending that businessman Philip Lynch and his family are liable for all of the AIB debts of developer Gerry Conlan arising from a mortgage related to a €25 million land deal in Waterford.

AIB is, however, claiming the Lynch family has a liability for a €25m loan facility provided to them and Mr Conlan to purchase development lands in Waterford.

Michael Collins, for AIB, made the clarification yesterday after earlier suggestions that a mortgage related to an €25m AIB loan facility for the Waterford deal appeared to make the Lynch family liable for all the debts of Mr Conlan to AIB.