Wallace to walk away from €30m debts

Independent TD Mick Wallace will walk away from debts of more than €30m after just one year of bankruptcy which began yesterday.

Mr Wallace was adjudicated a bankrupt at the High Court on foot of a €2m judgement debt in a 10-minute hearing.

He said there has been an agenda to drive him into bankruptcy by US fund giant Cerberus, which he has severely criticised in the Dáil over its role in the sale of Nama’s Northern Ireland loan book.