Wallace owes more than €40m to banks

Newly-elected TD Mick Wallace has estimated his property interests have fallen in value from almost €80 million during the boom to little more than €20 million in the current market.

19th March, 2011

Newly-elected TD Mick Wallace has estimated his property interests have fallen in value from almost €80 million during the boom to little more than €20 million in the current market.

Wallace’s building company, M&J Wallace, owes more than €40 million to four banks, and he admitted there would be a major shortfall if they decided to demand repayment. The majority of the money is owed to three foreign-owned banks, ACC, Bank of Scotland (Ireland) and...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say