The High Court has appointed a liquidator to the English Language School - IBS - which closed in recent weeks - leaving foreign students out of pocket and in limbo with their visas.
The liquidator will now attempt to sell IBS assets and use the proceeds to re-imburse creditors, including teachers and students.
IBS employed 18 staff and had 330 students at the time of its closure.
The students had paid up to €3,000 each for their courses.
The application to the High Court for a liquidator to be appointed to IBS was made by a student, who had paid fees for a course that did not commence.