Dublin-based solicitor Michael Lynn, who has estimated liabilities of more than €80 million, has formally been barred from practising.
The Law Society today secured an order of the High Court suspending Mr Lynn's practising certificate.
The society had not sought the suspension earlier because, it said, of concerns that suspension could affect his liability insurance cover.
But insurers AIG told the court last week that it was voiding Mr Lynn's insurance and the society today successfully sought the order to withdraw his certificate.
Counsel for the Law Society told the court that disciplinary proceedings against Mr Lynn are to be brought to the next level under the society's rules.
President of the High Court Mr Justice Richard Johnson said gardaí should be in a position to tell him whether international police should be involved in the search for Mr Lynn.
A warrant has been issued for the arrest of Mr Lynn after he failed to turn up last month for cross-examination by the Law Society concerning some of his financial dealings involving banking institutions.
Counsel for the Law Society said he understood gardaí had taken steps to execute the warrant but Mr Lynn was not in the jurisdiction.
Mr Justice Johnson asked whether there had been any progress in locating Mr Lynn, noting it had been a number of weeks since he had issued the warrant for his arrest.
Gardaí should let him know what the situation is, he said. "If it means getting the international police involved, then so be it."
A range of proceedings involving Mr Lynn were before the High Court and Commercial Court today.
Permanent TSB secured a court order requiring Mr Lynn to pay outstanding loans of almost €11 million.
In the Commercial Court, Mr Justice Kelly asked that Mr Lynn's name be called in a number of cases involving him but there was no appearance by either the solicitor or any legal representative acting on his behalf.