THE LAW Society will apply on Monday for orders freezing the accounts of a solicitor suspected of dishonesty.
The society also wants to have solicitor Joseph Traynor’s practising certificate suspended.
When the matter came before Mr Justice Peter Kelly yesterday on an ex parte basis (one side only represented), he ruled there was no basis for it to be heard in private.
Having read an affidavit from Jim Ryan, an investigating accountant with the society, and after hearing submissions from counsel for the society, the judge said he was satisfied to allow the society apply on Monday for the various orders, including suspending Mr Traynor’s practising certificate and freezing his accounts.
The judge noted the Law Society’s regulation committee had met last May to discuss Mr Traynor’s case and the chairman of the committee had described the investigating accountant’s report as one of the most serious and damaging reports ever put before the committee.
Mr Justice Kelly said he was satisfied the matter required the urgent attention of the High Court and he listed it on Monday before the president of the High Court.
The Law Society has brought the action against Joseph Traynor, practising as Traynor Company solicitors, Clanbrassil Street, Dundalk, Co Louth.
The Regulation of Practice Committee of the Law Society has expressed concerns that Mr Traynor allegedly gave undertakings to various financial institutions to stamp and register deeds when he was not in funds to do so.
Other issues raised included an alleged €102,900 deficit in a client account but that deficit has been resolved.
Among other matters investigated by the Law Society’s committee include an alleged € 1 million loan by a client, Francis Tiernan, to Mr Traynor, of which €600,000 was drawn down.
Mr Traynor had told the Law Society that Mr Tiernan owed him €750,000 in outstanding fees.
In separate proceedings, ACC Bank secured judgment orders in the Commercial Court earlier this year for some €12 million against Mr Tiernan, with an address at Anne Street, Dundalk, arising from loans made to him over a five year period for property and other investments.