ACC appoints receiver to assets of TD’s company

DEVELOPER and Independent TD Mick Wallace has admitted other banks may come after him after ACC appointed a receiver to a number of properties controlled by his company.

Mr Wallace has made no secret of the fact his company owes more than €40 million in total to four different banks and that the value of his assets has collapsed due to the property crash.

He acknowledged yesterday that the banks could seek to declare him bankrupt, requiring him to give up his Dáil seat, but said such a move would be “sheer badness”.