Tom McFeely, the developer behind the Priory Hall complex, was declared bankrupt by a court in London today.
Mr McFeely previously contested bankruptcy proceedings in the High Court in Ireland and is facing another similar application on Monday.
The Irish case is being taken by a Dublin woman over the failure of Mr McFeely to pay her €100,000 in damages awarded by the High Court over structural defects to a house.
Mr McFeely is appealing a separate High Court order to jail him for failing to remedy fire safety defects at Priory Hall.
Residents of Priory Hall said they will ask the Minister of Justice to pursue the overturn of Mr McFeely's UK bankruptcy.