A liquidator’s case for orders against Independents4Change TD Mick Wallace and his son, Sasha, has been adjourned to April 24th to allow the sides exchange legal documents.
The case was briefly mentioned before Mr Justice Robert Haughton in the High Court on Monday.
Promontoria Aran, a subisidary of US fund Cerberus, last year appointed Michael Leydon as liquidator of the Wexford TD’s construction and property firm, MJ Wallace Ltd. The move came after a €2million judgment was obtained against the company in relation to the Italian Quarter development in Dublin.
The TD had previously raised questions over Cerberus’ €1.6 billion purchase from Nama of a group of Northern Ireland-linked loans, called Project Eagle.
On Monday, the court heard that Mr Leydon believed the case involved “significant” issues. He has brought proceedings against Mr Wallace and his co-director son over their stewardship of the company.
The application seeks orders under the Companies Acts to have them disqualified from acting from company directors, or alternatively restricted in that role.
The firm had been in receivership since 2011, when ACC Bank appointed a receiver on foot of a €20million debt.
