Wallace declared a bankrupt with debts of up to €30m

Independent TD Mick Wallace has been adjudicated a bankrupt at the High Court on foot of a €2m judgment debt.

Mr Wallace’s total debts exceed €30m, the court was told.

Ms Justice Caroline Costello granted the bankruptcy petition by the Promontoria (Aran) Ltd fund arising from a €2m judgment obtained after the fund took over a debt owed to Ulster Bank.