Irish Bank Resolution Corporation (IBRC), the former Anglo Irish Bank, has sought bankruptcy shelter in the US, according to a report on Bloomberg News.
The report said the bank had filed a Chapter 15 bankruptcy petition in Delaware to protect its US holdings, listing more than €1 billion each in assets and debt. Chapter 15 shields foreign companies from U.S. lawsuits and creditor claims while a company continues the process abroad.
The government put IBRC into...
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