Westmeath County Council is hopeful that a solution can be found to continue a major housing development in Athlone following the collapse of Roadbridge.
The company, along with Alanna, were working jointly on the development of 576 homes in Lissywollen, which caused significant disquiet among residents in the area.
The Limerick headquartered firm traded for over half a century before a receiver was appointed last month with doubts for the future of a number of other projects in the Shannonside region, including the N5 bypass in Roscommon.
Councillor Frankie Keena was told at a meeting of Athlone Moate M.D this week that a number of remedies can be pursued that will allow the project continue in light of the firm facing serious financial challenges.
A further update is expected at the may meting of the local authority.