A government minister says whether or not we see a Banking Inquiry report is out of their control.

The inquiry will hold an emergency meeting later to discuss the threat of legal action that would force it to collapse.

Two developers have issued legal letters to the inquiry contesting parts of the final report.

The inquiry has received letters from two developers, Johnny Ronan and Michael O'Flynn, who object to parts of the inquiry's draft report.

Both have already had requests for changes rejected and each is threatening legal action if certain sections are not removed.

Any legal action would almost certainly cause a delay that forces it to miss its final deadline of January 28th.

Senator Susan O'Keeffe co-authored the final report, which was signed off by the Inquiry members on New Year's Eve.

She told Newstalk Breakfast the intention is to publish the report on Wednesday 27th January, but if challenges arise that could be pushed back.

"People will be aware legal challenges are generally complex and take time, and are not easily resolved and of course part of the procedure is that we had the first round of challenges - which were not legally based, in the sense that they were letters to the inquiry and submissions made" she said.

"I guess if somebody was to make a legal challenge that would delay publication, but I can't say that for sure", she added.

Minister Brendan Howlin says it is now out of government hands whether we see a report.

Inquiry members Joe Higgins and Pearse Doherty earlier this month announced they would not sign off on the final report.