A receiver has been appointed to a property development company jointly owned by Westlife star Shane Filan and his brother Finbarr.
Receiver Patrick Horkan of KPMG was appointed to Shafin Developments Limited by Ulster Bank in recent days.
The company had borrowed from Ulster Bank to finance a number of developments in Counties Leitrim and Sligo.
Speculation as to the extent of the company's debts has ranged from €4 to €23m.
The company was set up by the Filan brothers in 2004 and its projects included a housing estate in Dromahair, Coy Leitrim. However a number of other development plans, including a nursing home in Sligo and a supermarket in Dromahair, did not go ahead.
Late last year Shane moved to Surrey in England with his wife Gillian and their children and since then he has applied for an interim order for an 'Individual Voluntary Arrangement' which could help him to avoid bankruptcy.
