Solicitor Brian O'Donnell and his wife will be cross-examined in court over their attempts to file for bankruptcy in London.
The couple had created an £800m sterling portfolio of property stretching from London to Washington.
They are accused of being among the ''Irish bankruptcy tourists'' heading to the UK to use Britain's more lenient bankruptcy laws to avoid being banned from acting as directors for 12 years.
The pair, which were once listed as the 178th richest in Ireland, are currently embroiled in a legal battle with the Bank of Ireland over €75m of debt.
They used cheap credit offered by Irish banks to build up a huge property portfolio which included a Canary Wharf skyscraper, the headquarters of the Wall Street financial services firm Morgan Stanley.
But when the credit crunch hit, they transferred the ownership of three properties worth an estimated €360m to their four children, including their London residence in Barton Street, Westminster.
They are now attempting to file for bankruptcy in the UK, claiming that London is their ''main centre of interests''.
Today lawyers for Bank of Ireland told the High Court that they will cross examine them at a future hearing to determine this issue. The bank has already filed its own bankruptcy petition in Ireland and will argue that the case should be heard there.
Simeon Gilchrist, for Mr and Mrs O'Donnell, told the court that his clients ''by any analysis, are insolvent, and I do not believe that is disputed. The issue is where my clients be made bankrupt''.
''My instructions are to bring on, as soon as possible, the hearing of the argument and the argument before the court, at the moment, is that their centre of main interest is here in London,'' he continued.
Hannah Thornley, for the Bank of Ireland, said the full hearing would last a minimum of two days because ''we are in a position where we are going to seek to cross-examine Mr and Mrs O'Donnell.
She said the Bank had presented its own petition in Ireland and ''the court has been aware of that and that it has asked the Irish courts to stay that. It is important to the Bank that this matter is dealt with properly''.
The hearing was told additional evidence has been served by Mr and Mrs O'Donnell and Bank of Ireland has requested further time to examine it.
The hearing was adjourned until a date is fixed.
