Bankruptcy move latest twist in Mick Wallace-Cerberus saga

Wexford TD, a regular Nama critic, will not lose Dáil seat if application succeeds

Mon, Nov 7, 2016, 15:13 Updated: Mon, Nov 7, 2016, 15:21

Colm Keena

Independent TD Mick Wallace has criticised sale of NI ‘Project Eagle’ loan portfolio by Nama to Cerberus. Photograph: Bryan O’Brien

Independent TD Mick Wallace has criticised sale of NI ‘Project Eagle’ loan portfolio by Nama to Cerberus. Photograph: Bryan O’Brien

The bankruptcy application from US fund Cerberus to have independent TD and former property developer Mick Wallace placed in bankruptcy adds a new layer to what is already a complex relationship.

Wallace has used his position as a public representative to attack relentlessly the State-owned National Asset Management Agency (Nama) and how it has gone about selling the book of distressed loans it inherited after the banking and property collapse in the late 2000s.

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