Is there a further twist in fate of Republic’s tallest residential building?

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.

The plush apartment block certainly made a statement. It was the tallest building in the country and unfortunately for O’Flynn Construction, it came to the market just as Ireland’s decade-long credit wheeze was about to come to an unedifying end.

However, the company’s main shareholders, Michael and John O’Flynn, defied all expectations. Most high-profile property developers of that gilded era were quickly toppled by the State’s bad bank, Nama. Bernard McNamara and Sean Dunne among others went to foreign jurisdictions to go through the bankruptcy process.