One Dublin legal firm last year received fees in excess of €2m from Nama as the bonanza for professional firms from the agency’s work continued.

THE long-running action by businessman Philip Lynch and his family aimed at preventing AIB pursuing them for repayment of a €25 million development loan is expected to conclude at the Commercial Court today.

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.

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.

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.

ANGLO Irish Bank informed shareholders yesterday that the value of loans to former chairman Sean FitzPatrick reached as high as €129 million in the last couple of years.

PRISONERS in a State jail will not go hungry due to the financial collapse of its major raw beef supplier.

IRELAND’S top 12 commercial law firms have a combined annual turnover estimated at over €400 million, it has emerged.

Government policy is triggering the demise of good quality pensions in favour of bargain basement schemes, many of which are of limited value, an IAPF pensions conference in Dublin heard today.

AIB today announced that it is taking a 30% stake in Vivas Health, a new privately-owned health insurance company, which plans to launch immediately.

THE Government last night trenchantly denied that the legislation allowing the break-up of Aer Rianta was put together by an outside legal firm.

An Irish corporate law firm will be among four European law firms advising US companies on investing in Europe at a special conference in San Francisco on June 24.

David Duffy, managing director of Prospectus Consultants, talks to David Clerkin.

INVESTMENTS by the Irish Venture Capital Association (IVCA) fell by84 million last year — a 60% drop — with the bulk of investments going into technology companies despite the downturn in the sector.