Monday 22 January 2018

Liquidators try to protect $1bn of Anglo assets

SPECIAL liquidators of Anglo Irish Bank say they will fight any attempt to block the bank getting bankruptcy protection in the US courts.

Last month, the special liquidators appointed by the Government to shut down the former Anglo, now called Irish Bank Resolution Corporation (IBRC), applied to have US court protection extended to around $1bn (€750m) of the state-owned bank's assets located there.

Court protection would ringfence the bank's remaining US assets from any legal actions there.

The IBRC liquidators filed a so -called Chapter 15 petition in the US state of Delaware.

If successful it will mean the Irish bank effectively extending the protections of its liquidation here to the US.

Irish Independent

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editor's Choice

Also in Irish News