THE PRESIDENT of the High Court has repeated - for the third time - his request to be given details of the bonuses given to bank officials who paid out millions in loans to disgraced solicitors Thomas Byrne and Michael Lynn.
Mr Justice Richard Johnson said he wanted details of the bonuses given to bank officials concerning the loans and also wanted to know who authorised the loans.
This was the third time he had sought such information, having first made the request about a year ago, and the banks should "kindly take note" of his request.
He was speaking during an application by the Law Society to continue a freezing order on Mr Byrne's assets. The disgraced solicitor has been struck off and fined €1 million. His practice at Walkinstown Road, Dublin, has also been closed and he is facing multiple proceedings over multi-million euro debts brought by various financial institutions.
Yesterday, during the adjournment of proceedings by the Law Society to continue to have Mr Byrne's assets frozen, the court was told AIG Insurance Company has returned a premium cheque for €23,350 in relation to insuring his practice. AIG had also provided similar professional indemnity cover to Mr Lynn and is also seeking to void that policy.
Paul McDermott, for the Law Society, which is now handling all the financial affairs of Mr Byrne's practice, said acceptance of the premium cheque by the society does not mean the policy is void.
Mr Justice Johnson said the society could cash the cheque and the issue of whether the policy is void would be a matter for another day. He repeated comments he made last June about bonuses paid to bankers. He said that, for the third time, he was asking for the details, which had still not been provided. "Will they [the banks] kindly take note?" he said.
Mr McDermott said the banks are notice parties to the proceedings involving the freezing of Mr Byrne's assets. The case was adjourned for four weeks.