Full coverage: Dolphin Trust

The liquidator of MUT 103 Ltd has also told Irish investors he is questioning salary payments, fees and other expenses paid out by the company which raised €41.3 million.

A new report shows the security on Dolphin Trust property assets outside Berlin and Munich could prove a flashpoint between liquidators acting for different groups of Irish investors.

The High Court has confirmed the appointment of liquidators to Dolphin investment vehicle Mut 116 as Irish investors face over €100 million in losses.

Having launched an investigation into Irish investor losses in Dolphin Trust, the Pensions Authority has now issued legal proceedings in the wake of the alleged pyramid scheme's collapse last year. Irish investors face losses of €107 million.

The High Court is to rule today on Cork pensioner Kathleen Dineen's High Court petition to wind up Mut 103, the Irish affiliate of collapsed German property fund Dolphin Trust, aka German Property Group (GPG). Dineen is one of around 1,800 Irish investors left out of pocket by the group's demise.