The High Court dispute between the wife of missing solicitor Michael Lynn and several banks over distribution of the €4.7 million proceeds of sale of Glenlion Housein Howth has been fully settled.
The settlement over the house, the intended home of missing solicitor Michael Lynn and his wife Brid Murphy, means the court will not now have to decide Ms Murphy's claim as to whether the banks breached a duty of care to her in the circumstances in which they had loaned her husband sums totalling more than €11 million for the purchase of Glenlion Housewithout, she claimed, carrying out appropriate checks.
Last month, Ms Murphy (34) had agreed terms with ACC Bank under which it was to get some €4.32 million, the bulk of the €4.7 million proceeds of sale of Glenlion. That left over a sum of €413,764 to be distributed with Bank of Scotland Ireland (BOSI) and Ms Murphy claiming entitlement to that amount. That dispute went to mediation on the urging of the court.
At the Commercial Court, Ms Justice Mary Finlay Geoghegan was told by Mr Gary McCarthy, for Ms Murphy, the dispute between his client and BOSI had been settled in full.
On consent of both sides, the judge made an order directing that the remaining €413,764 proceeds of sale, which were previously lodged in court, be paid out to the solicitors acting for BOSI, Arthur Cox.
Mr McCarthy said Irish Nationwide Building Society was not objecting to that payment out and ACC also agreed.
