Byrne fails in bid to have injunction on reducing assets lifted

A HIGH COURT judge has refused an application by solicitor Thomas Byrne to lift an injunction granted to IIB Bank last month that restrains Mr Byrne reducing his assets or accounts below €9 million.

Lawyers for Mr Byrne applied yesterday to Mr Justice Peter Kelly, sitting in the Commercial Court, to have the injunction lifted because, it was argued, incorrect material had been put before the court in affidavits on behalf of the bank made by two persons concerning the issue of ownership of a property at Ballsbridge Terrace in Dublin.

The bank had a duty to find out the precise details of ownership of that property and had not done so, counsel argued.