TD Mick Wallace has been adjudicated bankrupt with debts of 30m in the High Court.
The Independents4Change TD ended his fight to avoid bankruptcy after a major debtor would not facilitate him in coming to a personal insolvency arrangement.
The heavily indebted Wexford politician was forced into bankruptcy by vulture fund Cerberus, which filed a petition earlier this year after obtaining a judgment against him for 2m.
The debt arose out of loans issued by Ulster Bank to Mr Wallaces M&J Wallace construction firm. Cerberus bought the loan book three years ago.
Mr Wallace has been a major critic of the vulture funds purchase of Project Eagle, the former Nama Northern I…
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