Cork building firm O'Brien and O'Flynn is to be wound up over a €71m debt to the National Asset Management Agency (NAMA).

The High Court has approved the appointment of liquidators to the company, which fought the petition.

The company directors are Dan and Denis O'Flynn.

They are brothers of developer Michael O'Flynn, who last month succeeded in regaining control of his business in a legal battle with Carbon Finance - an affiliate of Blackstone private equity group.