Three banks retrieve €5.7m from Mick Wallace firm

Three banks have now retrieved almost €5.7m after appointing receivers to the assets formerly owned by TD Mick Wallace’s main building firm.

This follows new documentation lodged with the Companies Office showing that ACC Bank, Bank of Scotland (Ireland), and AIB have received a combined €5.68m to date from the receivership of assets formerly owned by M&J Wallace Ltd.

The new documentation shows that AIB’s appointed receiver, Gerry McInerney, distributed a further €410,000 to the State-owned bank as a result of a property sale realising €394,385 and rental income of €31,980. The documentation confirms that Allsop oversaw the sale, which took place on September 28 last year.