The High Court has appointed liquidators to one time property giant, Treasury Holdings
Grant Thornton have also been appointed to the group's 16 subsidiary companies.
Lawyers for Treasury indicated last week that would not oppose an application by KBC Bank to wind up the business.
KBC claims it is owed over €55m, arising from loans to develop Spencer Dock in Dublin.
NAMA claims the property developers owes it over one billion euro, while Treasury's total debts are around €2.7bn.
The liquidators say management services being provided by the company should continue as normal, and they are to meet all staff to make arrangements for the future.