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Nine News: Will Goodbody reports that six companies, controlled by property developer Liam Carroll, are to apply to go into examinership
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Nine News: Ingrid Miley, Industry & Employment Correspondent, reports that many developers have suffered staggering falls in the value of their assets
The move follows a decision by ACC Bank to lodge a petition to have the six companies wound up because it is owed substantial sums of money by them.
The development comes after the Commercial Court earlier ordered one company - controlled by Liam Carroll - to repay €78.6 million of unpaid debt to Irish Nationwide Building Society.
The debt relates to a loan of €66.5 million given to Aifca Ltd of Upper Mount Street in Dublin in 2006 to refinance debt and to acquire a company involved in the development of The Square shopping centre in Tallaght.
