A group representing property developers and investors has said it intends to take High Court action to establish and highlight what responsibility for the property crash rests with Government, financial institutions and the regulatory structures in the State.
The Irish Property Council is seeking a plaintiff around whom the case will be built.
The IPC says it will, if necessary, subpoena former taoisigh, ministers for finance, the former financial regulator and former governors of the Central Bank to give evidence in the case.
On its website, the IPC says: 'Property owners are being ruthlessly scapegoated by Government and banks through the courts without the courts identifying their (State and lender) responsibility in this catastrophe.'
It has placed ads in national papers seeking suitable individuals to come forward.
The IPC says the case will be very expensive, and it has set up a test case account fund to which donations can be made.
