Tara Television, whose main business is transmitting RTE programmes in Britain, was today wound up in the High Court.
Mr Justice Brian McCracken ordered that accountant Mr Billy O'Riordan of PricewaterhouseCoopers be appointed liquidator.
On March 1st, Mr Ray Jackson - an interim examiner appointed by the High Court - found that the company had an excess of liabilities over assets of approximately €23 million.
Mr Justice Brian McCracken was told, that the company, which has 18 employees and operates from rented facilities at RTÉ's headquarters in Donnybrook, Dublin, was unable to pay its debts but was capable of survival as a going concern if an examiner were appointed.
The petition was presented to the court by the three majority directors, Mr John Francis Riordan, Rijk, The Netherlands; Mr Simon Oakes and Mr Adrian Crump both of Conduit Street, London.
The company, according to the original petition, is insolvent and unable to pay its debts as they fall due.
This was primarily due to the amount of programming fees which RTÉ was insisting on being paid and other difficulties, it said.
RTÉ said it regretted the liquidation, but said it was not possible to continue supporting Tara when there was 'clear evidence that the company was insolvent’.