The wife of missing solicitor Michael Lynn has settled her court action with ACCBank over the proceeds of a house she bought with her husband.
The settlement by Brid Murphy with the bank means she is unlikely to receive more than €400,000 from the proceeds of the sale of the house in Howth. She and Mr Lynn bought Glenlion House for €5.5m in 2006.
Ms Murphy believed the money to pay for the house came from Bank of Scotland Ireland and said she was unaware of two other loans granted to Mr Lynn from ACCBank and Irish Nationwide.
When details of Mr Lynn's financial affairs and property dealings came to light, all three banks took legal action.
Ms Murphy, a nurse, was originally facing legal proceedings for a total of around €11m. But Irish Nationwide has withdrawn its action and today's settlement means she is facing just one more case - from Bank of Scotland Ireland for almost €4m.
Glenlion House was sold by order of the High Court earlier this year for €4.9m. As a result of today's hearing, ACC will seek almost €4m from the proceeds. Ms Murphy is entitled to half of what is left. But whether she gets anything at all depends on the outcome of Bank of Scotland Ireland's action against her. The court has recommended that that case should go to mediation.
