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Hearing on bid to repossess Wallace's home in two weeks

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Mick Wallace. Photo: Steve Humphreys

Mick Wallace. Photo: Steve Humphreys

Mick Wallace. Photo: Steve Humphreys

A bank's attempt to repossess the Dublin residence of MEP Mick Wallace will be heard in a fortnight's time.

Mr Wallace was not in the Circuit Civil Court yesterday when Judge Jacqueline Linnane put the matter back for a full hearing on October 22.

At a previous hearing in June, Judge Linnane 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 5.

Barrister Jack Tchrakian, counsel for Mr Wallace, told the court that within the previous 24 hours his client had received a financial statement from his pension provider.

Judge Linnane said that on July 5, when she had last adjourned the matter, Mr Wallace had been required to have this financial information furnished within six weeks.

She said she would adjourn the proceedings for two weeks to give AIB Mortgage Bank time to examine the information Mr Wallace had received.

Mr Wallace was declared bankrupt by the High Court in December 2016 and an application for possession had been brought against him by the bank for his Clontarf Road, Dublin 3, property.

Chris Lehane, official assignee in bankruptcy, had been named as first defendant in the bank's proceedings.

An affidavit by a bank manager said the official assignee had not been making any objection to a creditor seeking a court order for possession of the house.

It was purchased in April 2004 on foot of a mortgage loan of €825,000, on which there were agreed monthly repayments of €2,270.

Mr Wallace had failed to keep up the required monthly repayments, the court heard.

Irish Independent