The developer behind the Ferrybank Shopping Centre in Waterford City is seeking to wind up retail giant Dunnes Stores.

The case is listed before the Commerical Court on Monday.

It is related to Dunnes Stores failure to pay some  €21.6 million due over an unpaid debt for building works.

In March this year the High Court awarded Holtglen Limited just over  €20 million from Dunnes Stores for breach of contract over the Ferrybank Shopping Centre.

Insolvent

The contract for Dunnes to be the anchor tenant of the centre was signed in 2007, however by the time the centre was completed in 2009 the market had collapsed and Dunnes were no longer interested in moving in.

Holtgen later became insolvent and its Bank of Ireland loans were transferred to a NAMA company.

It is understood NAMA wrote to Dunnes on October 30 warning that, unless it paid the €€20.4m judgment plus interest within seven days, Holtglen would proceed to publish a petition to wind up Dunnes.

Holtglen claims there is no justification for Dunnes not paying the sum due.