Lynn ordered to pay nearly €5m to banks

Solicitor Michael Lynn who practice was shut down by the law society has been ordered to pay just under €5m to four banks.

AIB, National Irish Bank, IIB and Bank of Scotland were successful in getting judgments against him at the Commercial Court earlier today as he didn’t mount a defence.

Mr Justice Peter Kelly has already directed that papers drawn up by First Active which contain allegations of double mortgaging against the 39-year-old, be sent to the National Bureau of Fraud Investigation.

It’s understood Mr Lynn owes more than €70m to various banks.