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

A wine bar and restaurant company co-owned by TD Mick Wallace made a profit of €40,000 last year, although the firm’s debts continued to grow by €63,732 to nearly €400,000.

ACC BANK said Mick Wallace’s assets will not realise sums sufficient to cover “or substantially cover” the €19 million it is owed by his company.

INDEPENDENT TD and property developer Mick Wallace has admitted his political career could be at risk after being ordered by a court to repay €19 million he does not have to ACC Bank.