IIB Bank and Irish Nationwide Building Society are each owed in the region of €10 million by solicitor and property developer Michael Lynn whose practice closed last week amid concerns about his property dealings.
Mr Lynn has drawn down personal loans of €26.3 million since January.
However, the amount owing by Mr Lynn and his property business, Kendar, could be far higher, perhaps as much as €50 million, when all his borrowings and deposits from investors are included.
Mr Lynn took out two loans totalling €5.525 million from Irish Nationwide this year alone.
Mr Lynn owns more than 100 properties, including 35-40 overseas properties, either personally or through another of his property companies, Proper T Capel. About 40 properties were bought this year.
He has arranged with his solicitor to have a forensic accountant from the firm Grant Thornton assist him in "clarifying" his accounts, the High Court was told yesterday.
However, it will be at least another two weeks before the full extent of Mr Lynn's liabilities become clear as he has been given a fortnight to provide a full list of his properties.
Mr Lynn's barrister, Paul Burns SC, when asked yesterday by the President of the High Court Mr Justice Richard Johnson how many properties were involved, said he "can't say".
Further light on the money owed by Mr Lynn may emerge at the High Court on Thursday when Bank of Scotland (Ireland) and other banks will apply to vary the court order concerning Mr Lynn with a view to having mortgage agreements between Mr Lynn and the banks registered.
Patrick Hanratty SC, for Bank of Scotland (Ireland), said he wanted to move urgently because, if the six mortgages in his client's case were registered, there would be an issue about the priority they would have on Mr Lynn's list of liabilities.
Representatives of IIB, First Active, AIB and ACC also spoke in court yesterday when the Law Society's case against Mr Lynn was heard again, but no figures were provided on the amounts owing to them.
Patrick Leonard BL, for First Active, said his client has a list of mortgages concerning properties and wanted to attend the Bank of Scotland application.
Cian Ferriter BL, for IIB, said his client was in an identical position to Bank of Scotland in relation to "a significant number" of properties.
A solicitor for ACC said it has charges over properties and had undertakings from Mr Lynn to furnish mortgages over properties.
Mr Justice Johnson said the banks should give the lists of the properties to the society. He directed that the applications to register mortgages be heard on Thursday.
Mr Lynn is still compiling a list of his properties. He is willing to co-operate with the society but needed access to his files, currently held by the society, to draft the list, counsel said.
The Law Society agreed to an adjournment for two weeks. The society's own investigation is proceeding and, subject to that, it would allow Mr Lynn access to the files, the court heard.
