The High Court has made an order to liquidate three companies controlled by hotelier Hugh O’Regan.
Mr Justice Garrett Sheehan appointed Kieran Wallace of KPMG as liquidator following an application from the firms' directors to have Thomas Read Holdings, Dashaven and Clubko wound up.
The court heard that between them the three companies owe Irish Nationwide Building Society and Anglo Irish Bank more than €190 million. The total liability over assets is estimated at €122 million.
Last month, Mr Wallace was appointed as interim examiner of the firms, which sought the protection of the court in a bid to trade out of their financial difficulties.
Thomas Read Holdings is a holding company for a number of Mr O'Regan's property companies. Clubko owns No 8 St Stephen's Green, Dublin. Dashaven is the company behind the Kilternan hotel redevelopment.
Both Anglo Irish Bank and Irish National Building Society had opposed the appointment of a liquidator on the grounds that it was not necessary because they planned to appoint receivers to the companies.