Last month Controlled Demolition went into administration and its name and assets were sold to Linkway Manufacturing owner Richard Burt for £1.93 million.
Michael Martin, minister for the Department of Enterprise, Trade and Employment, has ordered an investigation by the Irish Government's company law enforcement body, the Office of the Director of Corporate Enforcement.
Noel Ahern, minister for the Department of the Environment, Heritage and Local Government, is monitoring the legal implications of the investigation closely.
The inquiry is expected to determine whether Irish company law was broken.
The subcontractors met Dublin North West MP Pat Carey to ask him to fight their case. Mr Carey received information and statements from 15 companies that claim they are owed money.
Mr Carey said: 'We are anxious to establish whether Irish company law was infringed and we are hoping to discover there is a loophole somewhere.'
Subcontractors are angry because they believe a UK-based company should not be allowed to leave Irish firms on the brink of ruin on a Government-funded project.
Controlled's creditors each received a letter from administrator Ernst & Young last month informing them the company had gone into administration.
The firm declined to comment.