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The Law Society has appointed solicitor Gabriel Brennan as its e-conveyancing project manager to help implement Law Reform Commission (LRC) proposals to move property transactions to an electronic basis . . . a change that bankers have said is overdue and would have prevented solicitors Michael Lynn and Thomas Byrne from accumulating tens of millions in remortgages through false undertakings on their own behalf. The appointment . . . which will be announced in the next issue of the 'Law Society Gazette' . . . is effective from 1 September 2007 and, according to Law Society director general Ken Murphy, was made before the Lynn and Byrne cases came to public attention.
Murphy said the Law Society was "enthusiastic" about e-conveyancing and was leading other stakeholders to adopt the LRC's proposals on the issue."When in place it should prevent anything like [the Lynn and Byrne cases] from happening again, " he said.
E-conveyancing would allow the electronic release of registered charges against a property, preventing multiple mortgages from being drawn on the same security. Last week the Irish Banking Federation complained that the move to e-conveyancing . . . which got the Taoiseach's approval in mid-2005 . . . was proceeding too slowly. Senior banking sources blamed the legal profession for dragging its feet on the issue, a charge Murphy rejected last Friday.
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YOU ARE HERE: 11 November 2007 / tribune.ie / 2007 / 11 / 04
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