Cork brothers Michael and John O’Flynn have told the High Court they would not be maintaining allegations of wrongdoing against four receivers appointed to their companies by Blackstone subsidiary Carbon Finance.

The High Court will decide next week if it will dismiss an interim examiner appointed to four main companies in the Cork-based O’Flynn Construction Group.

The Elysian Tower in Cork in many ways symbolises the rise and fall of the Celtic Tiger and now, potentially, the developers behind the landmark project.