Bankruptcy move latest twist in Mick Wallace-Cerberus saga
Wexford TD, a regular Nama critic, will not lose Dáil seat if application succeeds
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.