2nd Circ. Doubtful Of Hedge Fund Suit Against Anglo Irish

Law360, New York (January 30, 2013, 6:35 PM EST) -- A Second Circuit panel suggested Wednesday that it would not likely revive a hedge fund's suit over the nationalization of Anglo Irish Bank Corp., expressing doubt about the whether the law permits the court to override Irish sovereignty.

The older than 60-year-old Treaty of Friendship, Commerce and Navigation between Ireland and the U.S., in which Ireland said it would not challenge lawsuits in U.S. courts, will likely not override U.S. law preventing suits against foreign sovereigns, a judge said at oral arguments.

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