Irish Bank Resolution Corp., formed to complete the liquidation of Anglo Irish Bank Corp., asked a U.S. bankruptcy judge to approve the sale of loans with nominal balances totaling more than $19 billion, Bloomberg News reported yesterday. The proposed purchasers of the U.S. assets include affiliates of Goldman Sachs Group Inc., Deutsche Bank AG and Lone Star Funds, according to an April 22 filing by the liquidator of the nationalized lender in U.S. Bankruptcy Court for the District of Delaware. Ireland’s government seized the Dublin-based bank in January 2009 as its bad loans soared following the collapse of the nation’s real estate market. IBRC filed for creditor protection in Delaware in August to protect its U.S. holdings during the wind-down. The liquidator, Kieran Wallace, asked the judge to consider approving the loan sales at a May 13 hearing. Ireland’s government put the nationalized lender, Irish Bank Resolution Corp., into liquidation in February last year under a plan to restructure its 34.7 billion-euro ($46.3 billion) bailout.
