Mr James Gogarty could not allude to allegations contained in an affidavit lodged in an Isle of Man court in March 1989, at least at this stage, Mr Justice Flood ruled.
Mr Gogarty was giving evidence of the need to commission a valuation for a 700-acre land bank in north Co Dublin.
It was, he said, necessitated by an action taken by the group's former chief executive, Mr Liam Conroy, alleging unfair dismissal on the part of the Murphy group.
In making his case, Mr Conroy had lodged his affidavit in the Isle of Man court.
Mr Garrett Cooney SC, counsel for the Murphy group, objected to "an attempt to introduce or rely in some way on an affidavit made by a person who is dead and who made that affidavit in proceedings in another jurisdiction".
But while Mr Justice Flood said the document was "relevant to the whole aspect of the beginning of the sale of the lands and why the sale arises" he ruled that "it is not going to go in at the moment".
Mr Gogarty said an affidavit existed "and was very relevant".