Bank’s bid to seize Mick Wallace’s Dublin home adjourned

AIB in proceedings against newly-elected MEP, who was ruled bankrupt in 2016

  Mick Wallace: elected to the European Parliament last month. Photograph: Eric Luke

Mick Wallace: elected to the European Parliament last month. Photograph: Eric Luke

 

A bank’s bid to repossess the Dublin residence of MEP Mick Wallace has been adjourned by a judge for three months.

Mr Wallace was not in the Circuit Civil Court on Friday when Judge Jacqueline Linnane put the matter back until October.

At a hearing last month, Judge Linnane had heard there had been a change in the then Wexford TD’s financial situation following his impending election as a member of the European Parliament.

He was elected as an MEP for Ireland South on June 5th.

Mr Wallace, who was declared bankrupt by the High Court in December 2016, had been granted an adjournment in his June 5th hearing of AIB Mortgage Bank’s application for possession of No 13 Clontarf Road, Dublin 3.

Chris Lehane, official assignee in bankruptcy, had been named as first defendant in the bank’s proceedings. Howevr, in an affidavit by a bank manager, it had been stated that the official assignee had not been making any objection to a creditor seeking a court order for possession of the house.

The house had been stated to be the primary residence of Mr Wallace. The court heard it had been purchased in April 2004 on foot of a mortgage loan of €825,000, on which there were agreed monthly repayments of €2,270.

Judge Linnane, at earlier hearings, had been told that Mr Wallace had failed to keep up the required monthly repayments and the bank was now owed €910,800, which it was seeking to recover through the courts.

The bank had informed the court that in December 2016, Mr Wallace had been adjudicated a bankrupt by the High Court and as a bankrupt his interest in the property had become vested in the official assignee, Mr Lehane.

Judge Linnane formally adjourned the bank’s application to October 8th.