The High Court has appointed provisional liquidators to an Irish firm linked to the collapsed German Property Group, formerly known as Dolphin Capital.

Mr Justice Senan Allen granted the application to appoint the liquidators to Dolphin MUT 116 Limited.

Last month, the court granted a woman's petition to wind up another Irish company in the group.

The German Property Group collapsed last year after taking more than €1bn from investors in Ireland, the UK, Asia and elsewhere.

Money had been raised from almost 2,000 Irish investors for the purpose of buying and renovating buildings in Germany, with promises of annual returns of as much as 15%.

At least €150m was invested by Irish based investors.