BUSINESSMAN Philip Lynch and his family are to appeal to the Supreme Court against a finding they must repay €26 million to AIB arising from an unpaid loan made to them and developer Gerry Conlon to buy development lands in Waterford.

A LAW firm being sued by businessman Philip Lynch and his family in an effort to prevent AIB pursuing them for repayment of a €25 million development loan was never retained by the Lynches in connection with that deal and owed no duty of care to them, the Commercial Court was told yesterday.

BUSINESSMAN Philip Lynch and his family have failed to produce evidence to show Allied Irish Banks misrepresented the nature of a €25 million loan made to them and developer Gerry Conlan, the Commercial Court was told yesterday.