Former Anglo Irish Bank Customers Blast Ch. 15 Bid

Law360, New York (September 16, 2013, 3:44 PM ET) -- Bankrupt Irish Bank Resolution Corp Ltd., formerly known as Anglo Irish Bank, should not receive Chapter 15 protection because it would protect the bank from a fraud lawsuit against it, its customers told a Delaware bankruptcy judge on Friday.

Friday’s filing says that the bank partook in a “systematic, organized and comprehensive fraud" against customers by manipulating the interest rates on loans it issued to make an extra $11 million from its borrowers.

The customers said that the bank does not qualify for Chapter 15 protection...
To view the full article, register now.