Solicitor Thomas Byrne was yesterday ordered by the Commercial Court to repay more than €8 million to Bank of Scotland (Ireland) and National Irish Bank (NIB), bringing to about €40 million the sums which he has been ordered to repay various banks.
Mr Justice Peter Kelly granted Bank of Scotland (Ireland) an order for summary judgment for some €4.87 million against Mr Byrne and also ordered him to pay some €3.265 million to NIB arising from loans advanced to the solicitor. Mr Byrne did not oppose the applications.
Mr Byrne's practice, Thomas Byrne & Company, Walkinstown Road, Dublin, has been closed by the Law Society.
Caroline Costello, for Bank of Scotland (BoSI) said yesterday the bank sought repayment of loans advanced to Mr Byrne in 2004 and 2005. BoSI claimed Mr Byrne acted as his own solicitor regarding the transactions. However, he failed to register BoSI's charges as first legal charges on the properties as agreed.
It also claimed Mr Byrne had transferred the title of six properties to third parties without discharging the proceeds of sale to BoSI. He never, it also alleged, appeared to have been the registered owner of two of the properties and had granted a first charge to another financial institution over at least one property.
In the NIB application, the sum of €3.26 million related to two loans advanced by the bank to Mr Byrne in 2005. NIB claimed Mr Byrne had defaulted on the loans in that the agreed security had not been provided in relation to the properties or the apartments.
