Thomas Byrne, who practiced in Walkinstown, has not been seen since High Court proceedings were initiated by eight banks seeking to recover over 40m worth of loans.

The Law Society has begun an investigation into the activities of Byrne and his assets have been frozen following a court order last week.

Gardai have received information that one of Byrne's clients is a Dublin car dealer who is well known to them. It is believed that Byrne has access to several hundred thousand euro of this man's funds.

The man is linked to a Crumlin-based drug gang currently involved in a feud that has claimed 11 lives. He is involved in laundering cash for the gang and is also regarded as having provided cars to be used in murders and other criminal activities.

Gardai say they have not received a missing person's report from Byrne's family and believe he has fled to either Spain or Holland.

Detectives are worried that if the solicitor returns to Ireland he could be shot although there is no suggestion that he was aware that his client was participating in illegal activity.

A garda source said: "This car dealer is linked with serious criminals and we have been investigating his activities for several years.

Thomas Byrne acts for this man and apparently has money belonging to him.

"The banks went to the High Court seeking their money but if this car dealer's cash is gone it is very possible that Byrne could end up in the mountains with a bullet in the back of his head.

Although no complaint has been made we are watching this one with interest."

EBS will go to the High Court this Tuesday to begin proceedings to recover 12.5m worth of loans it provided to Byrne. Irish Nationwide has already sought to recover the 10.5m it lent him.

It is anticipated that Thomas Byrne's eventual liabilities will exceed 40m and at least eight institutions are owed money. Byrne's practice has been closed pending the Law Society investigation.

Meanwhile ten financial institutions have agreed to pool their information regarding the liabilities of another Dublin solicitor, Michael Lynn. Mr Lynn is believed to have loans totalling over 50m arising out of his international property investment business. It is thought that different banks may have claims over the same properties that were used as capital to secure loans.

Proceedings have been adjourned until 8 November and the Law Society probe into Lynn is continuing. In the wake of the Lynn and Byrne cases the Law Society says it is confident that its practice of self-regulation is working.