The High Court will rule on Monday whether the businessman and former Doherty Advertising chairman, Paschal Taggart, should be restricted as a director as result of the company's collapse in 2003 with a deficit of more than €3.77 million.
Mr Justice O'Leary will also rule whether two former directors of the company - Liam Gaskin and Shay Moran - should be restricted on foot of an application from the company's liquidator, Jim Stafford, of accountancy firm Friel Stafford.
Well-known as a property developer and as chairman of the greyhound racing board, Bord na gCon, Mr Taggart was the best-known figure involved in Doherty Advertising.
The company was one of the largest advertising companies in the State, placing €7.9 million in adverts in 2002.
Its creditors included Ulster Bank and The Irish Times.
Mr Stafford's application to restrict the former directors was made under Section 150 of the 1990 Companies Act after he submitted a report on the company to the Office of the Director of Corporate Enforcement, Paul Appleby.
In turn, Mr Appleby's office informed the liquidator that he was "not relieved" from his obligation to make such an application to the High Court.
The application for the restrictions was heard by the judge on December 1st.
Persons against whom restriction orders are served are unable to act as directors of a company unless it has paid-up share capital of €63,487.
In a report posted last January on his website, liquidations.ie, Mr Stafford said he believed the deficit at Doherty Advertising was "substantially greater" than the €3.77 million estimated by Mark Beggs, the former managing director of the company.
"I found that a creditor of the company had received 'preferential' payments from the company in the period immediately prior to the company's receivership. Upon legal advice, I negotiated a settlement with the creditor whereby I will receive €38,000 in full and final settlement."
Mr Beggs and another former executive director Anthony Martin were restricted by the commercial division of the High Court last December on foot of proceedings issued by the company's receiver, Tom Kavanagh.
Both Mr Beggs and Mr Martin agreed to be personally liable for €2.2 million of the company's debts.
Each consented to the making of a declaration under Section 297 of the 1963 Companies Act that they were was knowingly a party to carrying on the company's business in a reckless manner.
