Developer and TD, Mick Wallace has said he does not expect to be forced into bankruptcy, following ACC’s decision to appoint a receiver to a number of properties controlled by his building company.
Declan Taite of FGS was appointed last Tuesday to the Italian Quarter on Ormond Quay in Dublin city centre, the Behan Square apartment complex on Russell St near Croke Park, and to development land in Rathgar, Dublin 6.
All the assets were under the control of Mr Wallace’s main development company, M&J Wallace Ltd. It is understood that ACC Bank is owed €20m, and had fixed charges over the specific assets in question.
Reciever Appointed To Wallace Properties (RTE)
(Photocall Ireland)
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