Anglo Irish Bank Fights Hedge Funds' Suit Over Bailout

Law360, New York (August 1, 2011, 8:42 PM EDT) -- Anglo Irish Bank Corp. Ltd. argued Monday that a New York federal court shouldn't block a sale of its U.S. assets in a lawsuit by two hedge funds seeking to stave off potential losses following Ireland's bank system bailouts.

The pair of hedge funds, Fir Tree Capital Opportunity Master Fund LP and Fir Tree Value Master Fund LP, are seeking to block AIB from selling its U.S. assets — a portfolio of risky commercial real estate loans worth about $10 billion — outside the U.S. because...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.