Michael Lynn, the solicitor and owner of investment company Kendar Holdings, re-appeared in Dublin's High Court yesterday where he was given two weeks to draw up an affidavit listing all the properties he owns. His court appearance follows a turbulent week in which the 39-year-old property developer, who owes some EUR 26 mln to clients, had his assets frozen and his company's website put off-line.
Michael Lynn, the solicitor and owner of investment company Kendar Holdings, re-appeared in Dublin's High Court yesterday where he was given two weeks to draw up an affidavit listing all the properties he owns. His court appearance follows a turbulent week in which the 39-year-old property developer, who owes some EUR 26 mln to clients, had his assets frozen and his company's website put off-line.
In September, the Law Society, the governing body for solicitors, investigated Lynn's practice, which has now been shut down, following concerns about his property dealings. The investigation allegedly disclosed 'acts of dishonesty' and revealed a deficit in clients' accounts of EUR 702,830. However, the society believes the actual deficit to be 'much more than this'. Two lenders, the Bank of Scotland and Anglo Irish Bank, have already appointed a joint receiver in a bid to secure their loans. Lynn currently owns 105 properties in Ireland, the US, Slovakia and Portugal.
