The Criminal Assets Bureau has applied to sell €500,000 worth of cars, motorbikes, jewellery and other assets, which belong to 11 people it believes are linked to the Kinahan crime gang.

CAB seized the assets following raids at various locations in March last year and previously secured High Court orders freezing the assets.

It has taken these proceedings against Liam Byrne, whose brother David was shot dead in an attack at Dublin's Regency Hotel in February 2016, and a number of his associates.

The bureau claims Liam Byrne is a member of the Kinahan gang.

The court appointed a CAB receiver over the cars last month and granted orders allowing the vehicles to be sold but it put a stay on that order, pending any application by any of the individuals linked to the assets.

Senior Counsel Remy Farrell for the CAB told the court the bureau contends the assets represent the proceeds of crime.

Mr Farrell said the vehicles were used by the Kinahan gang as currency for services and for laundering money and were linked to a car sales company which was a bogus front.

He said the vehicles were not of sentimental value and were used as assets only and had depreciated in value by €111,000 since they were seized.

Lawyers for several of the respondents asked for time to allow them to respond to the application. The court was told some of the lawyers were awaiting instructions from their clients on the matter.

Ms Justice Carmel Stewart agreed to adjourn the case to 20 March to allow anyone claiming an interest in any of the assets to file a sworn statement. 

She said she was not going to allow the stay on the sale order to remain in place for a lengthy period.