The High Court has granted an injunction to IIB Bank, against a Dublin solicitor.
Thomas Byrne, with an address at Lad Lane, Baggot Street in Dublin 2, and who practices as Thomas Byrne & Co on the Walkinstown Road and in Sandyford Industrial Estate in Dublin, has been ordered not to reduce his assets below €9m.
The High Court also ordered Mr Byrne not to dispose of, reduce or in any way deal with any money in bank accounts held by him or on his behalf.
The orders were sought by IIB Bank yesterday afternoon.
The proceedings will be back before Mr Justice Frank Clarke tomorrow.
It is understood the Law Society has also initiated proceedings against Mr Byrne, which were held in private this morning.
Only lawyers for the Law Society were present at this morning's proceedings before the President of the High Court, Mr Justice Richard Johnson.
In 2006, the Solicitors Disciplinary Tribunal found Thomas Byrne guilty of misconduct in his practice as a solicitor.
It found that he had allowed a deficit of over €1.5m in his client account as of the 31 May 2005.
It also found that he had failed to maintain proper books of account between November 2004 and September 2005 and it found that he allowed personal transactions to be drawn from the client bank account.
Mr Byrne was censured by the Tribunal and ordered to pay €15,000 to the solicitors' compensation fund.
The Law Society has posted a notice on the window of Mr Byrne's practice on Walkinstown Road telling clients that the practice is now closed.
It says it has removed clients' files for safekeeping.
The society advises clients to instruct new solicitors and says it will forward files to the new solicitors.