Former Anglo Irish Bank Wins US Nod On Loan Liquidation
By Matt Chiappardi
Law360, Wilmington (May 13, 2014, 8:18 PM ET) -- A Delaware bankruptcy judge gave Irish Bank Resolution Corp., formerly known as Anglo Irish Bank, the green light Tuesday to liquidate much of its multibillion-dollar loan portfolio, about $1 billion of which is governed by U.S. law, to buyers including units of Goldman Sachs Group Inc. and Deutsche Bank AG.
U.S. Bankruptcy Judge Christopher S. Sontchi approved the sale of the assets under his jurisdiction at a hearing in Wilmington, Delaware. But the judge also ordered that $36 million of the proceeds be held for 60...