Home buyers who have paid deposits on properties in two developments in Dublin, built by Laragan Developments, could lose 99% of their money as the company is in examinership.
The High Court appointed Grant Thornton Ireland to act as examiner to Laragan Developments Limited in March 2009.
Almost 100 people have paid deposits of €15,000 and €20,000 on properties at Carrickmines Green, south Dublin, and Milner's Square in Santry, north Dublin.
The examiner has recommended that the buyers should be released from their purchase contracts and that they be awarded 1c for every €1 of the deposit paid.
The home buyers attended meetings over the last two days and the High Court is due to rule on the examiner's proposals on Friday.
Laragan Developments has also offered some buyers the option to buy other already completed properties in the same developments at current market prices.
The company said it feels it would be inappropriate to make any comment at this stage that could prejudice its position in the legal process.
