Anglo Irish Bank Wins Ch. 15 Recognition

Law360, Wilmington (December 18, 2013, 7:38 PM EST) -- Irish Bank Resolution Corp. Ltd., formerly known as Anglo Irish Bank, won long-sought Chapter 15 protection on Wednesday as a Delaware bankruptcy judge delivered an unexpected bench ruling recognizing the bank's foreign liquidation proceedings.

IBRC's contested bid for Chapter 15 recognition hung fire for months and wasn't on the agenda for Wednesday's hearing in Wilmington, but U.S. Bankruptcy Judge Christopher S. Sontchi said the time had come to resolve the matter.

“Long story short, I'm going to grant the motion,” Judge Sontchi said.

Given the particular...
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