IRELAND’S low corporation tax rate is the most positive element that attracts foreign direct investment into Ireland, according to a new index launched today by Matheson Ormsby Prentice (MOP).

A SOLICITOR has denied he “mixed up” the concepts of security and recourse in an email stating Allied Irish Bank “no longer require any legal recourse” against businessman Philip Lynch, developer Gerry Conlan “and the Lynch children” for a €25 million loan to buy development lands in Waterford.

THE personal assistant to businessman Philip Lynch asked a solicitor, just hours before a €25 million loan was signed by the Lynch family, whether the final terms of that loan meant AIB would have recourse only to lands for repayment, a court has heard.

EMAILS sent by solicitors with the LK Shields law firm to the family of businessman Philip Lynch just hours before they signed up to a €25 million loan to buy development lands with developer Gerry Conlan stated Allied Irish Bank only wanted recourse to the land, not the family, the Commercial Court has heard.

A SOLICITOR has told the Commercial Court the final terms of a €25 million loan issued by Allied Irish Banks to buy development lands in Waterford gave the bank full recourse to businessman Philip Lynch and his family for repayment of that sum.