Solicitor and developer Noel Smyth has settled his long-running legal dispute with rival developer Liam Carroll over Smyth's removal from office at Dunloe Ewart when Carroll bought the company in 2002 after a protracted hostile takeover.

The case was settled in recent weeks and Carroll is understood to have paid the settlement in full, although he is currently writing to creditors asking them to accept 60 cent in the euro on his debts. Carroll has secured €14m to help pay his creditors and appointed KPMG to advise him. He is also understood to have received a facility letter from AIB and BoS(I) in recent weeks for about €100m.

Smyth and Carroll are also involved in a major dispute about a proposed expansion of The Square in Tallaght. Smyth claims delays on the project cost him about €150m in lost capital allowances. Mediation attempts have so far been fruitless.

Carroll's companies are facing a slew of High Court proceedings, with nine cases lodged against them since the start of the year, the latest of which is from pre-cast concrete specialist Acheson & Glover. Others include retailer Marks & Spencer and estate agent Savills, as well as Mercury Engineering.

Carroll has lost millions in recent years in investments in the likes of Aer Lingus, Greencore and McInerney. He has stopped work on some of his sites and recently closed two hotels in Tallaght.