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Tue 07 Jul 2008Concern over rise in cases against solicitors
A HIGH Court judge has expressed concern about an increasing number of cases in which solicitors are being sued by banks and others for allegedly dishonouring undertakings to take the necessary steps to ensure financial institutions have good security for loans advanced.
Mr Justice Peter Kelly made the remark yesterday when dealing with proceedings in which ACCBank wants court orders requiring a solicitor to perform a number of undertakings to ensure the bank has security for loans amounting to more than €2 million advanced to two property development companies on dates in 2004 and 2005.
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