The National Asset Management Agency has appointed a receiver to the company and personal assets of developers Ray and Danny Grehan.
Receivers Michael McAteer and Paul McCann of accounting firm Grant Thornton have been appointed to oversee the debts and associated property assets.
The developers' major interests include the Grange apartment complex in Stillorgan the Glenroyal Hotel in Maynooth and the former site of the UCD Veterinary College in Ballsbridge.
Ray Grehan paid €171.5m for the Veterinary College site in 2005 which made it, at the time, the most expensive site per acre in the country.
Nama has confirmed that the Grehans' corporate and personal debts to the agency are in the 'hundreds of millions of euro'.
RTE News understands Nama has made a separate application to appoint Grant Thornton as administrators to the developers' assets in the UK which include a hotel in Shoreditch and an apartment block in London's Docklands.
The UK administration hearing is due to be heard on May 10.
