Creditors including up to 100 home-buyers are in the High Court today in a bid to recoup some of what they are owed from troubled property company Laragon Developments Ltd.

Around 95 prospective buyers who put down deposits of between €15,000 and €20,000 for homes over two years ago will lose most of their money.

One hundred and fifty-seven parties are owed money by Laragon Developments, including depositors, banks and companies who carried out works on developments at Kilronan Castle Hotel and Holiday Homes, Carrickmines Green, Carrickmines in Co Dublin, and Milner Square in Santry.

Ninety-five prospective buyers lost €15,000 or €20,000 each in deposits they paid for homes over two years ago.

They are not covered by the home bond insurance scheme, which only covers deposits for 24 months.

An examiner has been appointed in a bid to save the company and depositors have been told they will recoup around 1% of the money they paid, which comes to around €150 or €200 euros each.

The court has heard that other creditors are due to receive more compensation and so they are more likely to vote in favour of the scheme put together by the examiner.

Lawyers for the parties said the examiner could not be blind to the widespread disquiet this has caused and to the considerable personal fallout for those who have lost significant sums of money.