The official administering Sean Dunne's Irish bankruptcy has told the High Court he believes the bankrupt businessman was the beneficial owner of the Dublin 4 property known as Walford which was purchased in July 2005 for €58m.

ASKING the Commercial Court to accept claims by businessman Philip Lynch and his family that they would have walked away from a land deal had they believed they could be pursued individually for the €25 million loan involved “a very big ask,” a judge was told yesterday.

WELL-KNOWN businessman Philip Lynch, his wife Eileen and their four children are suing AIB and two firms of solicitors in a bid to stop the bank pursuing them individually over unpaid loans of €25.3 million advanced to buy lands in Waterford for development.