US court ruling on IBRC protects Irish taxpayers' money
on 09/10/2013 08:32:09
The court in Delaware has also rejected applications by two US funds for documents relating to the Government decision to liquidate IBRC, formerly known as Anglo.
The liquidators for IBRC are seeking "Chapter 15" bankruptcy in the US, and property developer John Flynn is challenging that.
Yesterday's outcome, which was a win for IBRC, has been called a win for the Irish taxpayer who bailed out the bank since the money that has been protected in the ruling can be recouped for the taxpayers to reduce the bank bailout.