The planned auction of solicitor Michael Lynn's house in Howth has been postponed pending the clarification of a number of legal matters.
Glenlion, the house on 4.75 acres in Howth that Mr Lynn and his wife Bríd Murphy bought last year, was due to be auctioned today. An advised minimum value of €4.5 million had been set by selling agent Lisney.
The auction was cancelled yesterday on the instructions of receiver Rory O'Ferrall of accountants Deloitte & Touche.
The decision to postpone the auction was taken due to a number of legal matters arising in the High Court, according to Mr O'Ferrall. The house is currently the subject of a number of competing claims, he said.
"It is intended to proceed with sale as soon as matters are clarified," he added.
The High Court heard last month that three or possibly four financial institutions gave Mr Lynn loans of more than €12 million to buy Glenlion House.
Mr Lynn and Ms Murphy paid over €5 million for Glenlion House a year ago.
Glenlion House stands near the edge of Howth Head close to the Baily lighthouse. The 216 sq m (2,325 sq ft) house dates from the 1950s and is in a dilapidated state. It has extensive gardens, uninterrupted views of Dublin Bay and its own private beach.
There has been a good level of interest in Glenlion, with around 30 parties viewing the property in the last month, according to selling agent Darren Chambers from Lisney.
The Dublin-based solicitor is alleged to have taken out multiple mortgages on a large number of properties and his liabilities have been estimated at up to €70 million. He is being investigated by the Garda Síochána and the Law Society.
