The Supreme Court has reserved its decision on an appeal against a High Court ruling preventing an English company from funding a legal action over the award of the State's second mobile phone licence in 1996.
Persona Digital Telephony has taken its action against the State, Denis O'Brien and former minister Michael Lowry over the award of the licence to Mr O'Brien's company, Esat Digifone.
Persona says if the High Court decision stands it will have to drop its case because it does not have the estimated €10m necessary to continue.
It argues its case is of significant public importance and should be allowed to proceed in the interests of justice and public policy.
It also claims the type of third-party funding involved is not contrary to public policy.
The High Court ruled last year that the intended funding arrangement with Harbour III Limited Partnership was not allowed because of the law here on maintenance and champerty.
Maintenance involves improper interference in civil proceedings often through the provision of financial assistance.
Champerty is when financial support is provided by a party with no connection to the dispute in exchange for a share in any proceeds of the case or some other profit.
The court will give its decision at a later date.
