Dublin solicitor Thomas Byrne appeared in the High Court today where he agreed to orders closing down his practice and freezing his accounts.
Mr Byrne is being pursued by several banks over alleged mortgage fraud.
The court heard that some €9 million loaned by IIB Bank to Mr Byrne and lodged in an National Irish Bank (NIB) account was gone from the account prior to a freezing order being granted.
IIB, in an effort to trace where the money has gone, secured orders permitting it to see documents relating to the NIB account and to any parties who may have had dealings with the monies.
Those orders apply from September 10th, when the €9 million was lodged, to the granting of the freezing order on October 22nd.
Mr Michael Cush SC, for IIB, said Mr Byrne had said he would co-operate and therefore IIB was free to make inquiries of third partues relating to the monies.
Mr Sean O Siothchain BL, for Mr Byrne, said his client was prepared to swear an affidavit and hoped to have that available next Monday.
In proceedings brought by the Law Society against Mr Byrne before the President of the High Court, Mr Justice Richard Johnson, Mr Byrne agreed, through his counsel Mr O Siothchain, instructed by Christie and Gargan solicitors, to the continuation of orders freezing his accounts and closing his practice, Thomas Byrne & Company, located at Walkinstown Road, Dublin 12.
The Law Society applied today for its proceedings, initiated last week in private, to be heard in public. Mr O Siohtchain said he had just come into the proceedings and it might be preferable if they remained private. However, Mr Justice Johnson said that, given the publicity already given to the case, it would be "futile" to keep it in private and he directed it be heard in public.
The High Court heard last week that Mr Byrne drew down a loan of €9 million from IIB on September 7th, and the bank secured an injunction from the court on Monday last, freezing his bank accounts.
Mr Byrne's Walkinstown practice was closed last Monday by the Law Society.
His known liabilities stand at €36 million to four financial institutions, although his total debts are likely to be higher as he owes money to at least four more lenders.
The IIB has also secured a court order compelling NIB to disclose details of Mr Byrne's accounts.
IIB told the court last week that it had discovered that some properties provided by Mr Byrne as security for its loan had already been mortgaged with four other lenders - Bank of Scotland (Ireland), ICS Building Society, Anglo Irish Bank and Ulster Bank.