Wallace receivership costs hit €464k

The costs associated with the receivership of flagship assets formerly owned by independent TD, Mick Wallace’s main construction firm, M&J Wallace Ltd, now top €464,000, figures show

The €464,106 costs resulted in a surplus of €185,726 at the end of the latest period covered by the receiver, Declan Taite of RSM Farrell Grant Sparks.

The largest cost to the receivership to date has been a bank/Nama cash sweep totalling €150,000 while professional fees are €105,477.