Mick Wallace has been declared bankrupt in the High Court.
The Wexford TD was found to be unable to pay back multi-million euro loans following an application by the US fund Cerberus.
Todays decision comes on the back of an application by Promontoria Limited, a subsidiary of US fund Cerberus, in relation to a 2m debt.
At the start of this year, a summary judgement was made against Deputy Wallace in the High Court.
Earlier this month, the High Court heard he was looking at possible alternatives to bankruptcy and that a Personal Insolvency Practitioner had written to his main creditors to see if some sort of arrangement could be made.
This morning, Ms. Justice Caroline Costello heard the Wexford TD has been unable to reach such an arrangement a…
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