Byrne to pay €2m to IIB

SOLICITOR Thomas Byrne was yesterday ordered by the Commercial Court to repay €2 million to IIB Homeloans.

Mr Justice Peter Kelly granted summary judgment to IIB for €2,036,749 against Mr Byrne, whose practice, Thomas Byrne & Company, Walkinstown Road, Dublin, has been closed by the Law Society. Mr Byrne did not contest the application for judgment, which related to loans made to him from 2003.

The bank claimed Mr Byrne had failed to honour undertakings to execute charges over properties advanced as security for the loans.

Earlier this week, the judge ordered the solicitor to repay more than €8m to Bank of Scotland (Ireland) and National Irish Bank, bringing to more than €40m the sums which he has so far been ordered to repay to various banks.

Four other banks secured judgment for a total sum of about €30m against Mr Byrne.

Mr Justice Kelly also directed that papers in relation to dealings by Mr Byrne with the EBS should be sent to the Garda National Bureau of Fraud Investigation as they contained “disturbing matters”.