Instead the court has ordered that a receiver be reinstated to the Muckross Park Hotel.

Earlier Bill Cullen apologised to the Court for failing to disclose that he owned part of the land on which the Muckross Park Hotel is built, when lodging the application.

ACC Bank had opposed the examinership application and was scathing in its criticism of the Apprentice star describing his submissions as, 'remarkably vague' and 'unsatisfactory'. 

The Court said it was refusing the application, 'with regret', but noted the bank has indicated it wishes to continue business.

Mr Justice Peter Charlton said he was satisfied the 'very beautiful' hotel has a good prospect of survival.