Anglo Irish Bank was to receive a profit share as part of its funding of the expansion of The Square shopping centre in Tallaght, the High Court heard last week.

The revelation explains how the now nationalised bank was able to record superprofits during the property boom years.

Anglo was to provide €196m for phase three of the expansion and also provided facility letters for the acquisition of the UCI cinemas and a payment for the acquisition of The Square's freehold from South Dublin City Council.

The revelation came during a €140m damages claim before the High Court by developer Noel Smyth's Redfern against developers Liam Carroll, Tom McFeely and Larry O'Mahony and companies related to them.

Smyth told the court last week that the value of the development could not be known at the moment.

"The fact that we have really no money to talk about in the banking system means that we are going to have to wait probably until next year when hopefully Nama and some of the other factors which have brought us to where we are at at the moment are resolved," he said.