Mick Wallace declared bankrupt



saab900

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History will puzzle over Mick Wallace, and how in the backwash of a developer-led property crash we elevated a property developer to the status of popular hero.
 

Hitchcock

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So history has finally caught up on Mick Wallace and he's been declared bankrupt with debts of €30 million.

TD Mick Wallace adjudicated bankrupt with debts of

Doubtless he can continue as a TD but he's lost any shred of credibility that he still retained.
Doubtless he can continue as a TD
Yes he can as the law was altered.

he's lost any shred of credibility that he still retained.
How so? All these issues were public earlier in the year and yet he got elected? Is Regina Doherty a credible TD?
 

Hitchcock

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History will puzzle over Mick Wallace, and how in the backwash of a developer-led property crash we elevated a property developer to the status of popular hero.
I'm not sure he's a hero nor does he see himself in that light from what I can tell. He was also a relatively small developer...Some of the developers who actually were instrumental in the crash are back building and developing all round them despite being bailed out by the taxpayer.
 

GJG

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She was told James Green, a personal insolvency practitioner with McCambridge Duffy, had written to Mr Wallace’s main creditors, AIB, ACC and Cerberus.
No doubt they did everything in their power to avoid that eventuality.

I understood that he loses his seat automatically on being declared bankrupt. Correct?
 

Jack Walsh

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So history has finally caught up on Mick Wallace and he's been declared bankrupt with debts of €30 million.

TD Mick Wallace adjudicated bankrupt with debts of

Doubtless he can continue as a TD but he's lost any shred of credibility that he still retained.
Inevitable it would end in bankruptcy and best for Wallace too.

Interesting you consider someone who has to accept bankruptcy, as being someone who loses every shred of credibility.
 

GDPR

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History will puzzle over Mick Wallace, and how in the backwash of a developer-led property crash we elevated a property developer to the status of popular hero.
Because he sticks it to the man and those that worship him just love anyone who sticks it to the man.
Logical thinking not being a requirement or even a possibility for the vast majority of them.
 

Betson

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Doubtless he can continue as a TD but he's lost any shred of credibility that he still retained.
So is anyone who has been declared bankrupt because of a failed business to be seen as having no credibility?

Easiest way to avoid it is not to try and do anything at all business wise , for a living just rely on those who do take the risk , which is what most od us do.
 

PBP voter

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No doubt they did everything in their power to avoid that eventuality.

I understood that he loses his seat automatically on being declared bankrupt. Correct?
They changed the law a few years back. So his seat is safe.
 

bonkers

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Because he sticks it to the man and those that worship him just love anyone who sticks it to the man.
Logical thinking not being a requirement or even a possibility for the vast majority of them.
I'm not surprised you don't like him. He's revealed a lot about Nama and your beloved party set up that clusterfuk.
 

flavirostris

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Great. No loss at all but there's a very strong possibility that FF would win the ensuing by-election.
 

Sister Mercedes

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History will puzzle over Mick Wallace, and how in the backwash of a developer-led property crash we elevated a property developer to the status of popular hero.
History will be a bit more nuanced in its assessment of a complicated individual with good and bad to his name.
 

RodShaft

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So is anyone who has been declared bankrupt because of a failed business to be seen as having no credibility?

Easiest way to avoid it is not to try and do anything at all business wise , for a living just rely on those who do take the risk , which is what most od us do.
He was a plain old vanilla property developer.

Property speculation has destroyed this country. He got greedy. Extremely greedy.

If he stuck to just being a builder he might still be in business.

I have great sympathy for lots of bankrupt people who took risks to build up businesses outside of property mania.
 

Jack Walsh

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Great. No loss at all but there's a very strong possibility that FF would win the ensuing by-election.
His seat is safe, the ridiculous law that prohibited a bankrupt or ex bankrupt from being an Oireachtas member was removed two years ago.
I would have assumed you'd have no issue with this, given the deity you currently worship has been bankrupted five times!
 

GDPR

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I'm not surprised you don't like him. He's revealed a lot about Nama and your beloved party set up that clusterfuk.
On a personal level I do like him, but I can see the clay all around his feet and so far he's revealed nothing about NAMA, some stuff about punters in the North, but nothing about NAMA.

This would be typical of the lack of logical thinking I referred to.
 


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