An arbitration hearing has been told that the English shelf company, Jackson Way Properties, should only receive €7.6m compensation for lands it owned at Carrickmines, south Co Dublin.
David Garvey, a valuer employed by Dún Laoghaire-Rathdown County Council, said the 20 acres secured to build the last stage of the M50 were only worth £300,000 per acre.
Jackson Way Properties had claimed it should have been paid €116m but subsequently dropped its demand to €47m.
The main difference between the two sides is that Jackson Way claims other land it owns in the area is now of a significantly reduced value due to the motorway.
However the council is arguing that the motorway will increase the value of the land.
Jackson Way Properties is currently being investigated by the Flood Tribunal and the Criminal Assets Bureau in relation to alleged payments to politicians for re-zoning.
It was reported at the weekend that the CAB would intervene once an award was made by the arbitrator, John Shackleton, to ensure that the allegations had been fully investigated prior to money being handed over.
