Bankrupt Anglo Irish Bank Seeks To Stay US Fraud Suit
By Jamie Santo
Law360, Wilmington (October 4, 2013, 9:28 PM ET) -- Chapter 15 petitioner Irish Bank Resolution Corp. Ltd., formerly known as Anglo Irish Bank, urged a Delaware bankruptcy judge Friday to impose a temporary stay on a group of former customers suing the bank for fraud, saying the estate will suffer if the lawsuit isn't halted.
Dublin-based IBRC's foreign representatives want the fraud suit stayed until the court hears its Chapter 15 petition for recognition of its Irish liquidation proceedings. They asked the court Friday to overrule the customers' objection to this provisional relief.