DUBLIN Aug 27 The liquidation vehicle for
Ireland's failed Anglo Irish Bank has filed for bankruptcy
protection in the United States, it said on Tuesday.
The Irish Bank Resolution Corporation's (IBRC) liquidators
said they filed an application under Chapter 15 of the U.S.
bankruptcy code in the district of Delaware on Monday.
Chapter 15 grants a foreign company protection from
creditors looking to seize its assets in the country.
"These assets form part of the liquidation process currently
underway," the liquidators said in a statement.
Anglo Irish Bank was wrecked in 2008 when a property bubble
burst after years of reckless lending and sparked more public
anger in June when a newspaper published phone conversations of
executives laughing at being rescued by the government.
The bank eventually cost taxpayers some 30 billion euros in
the financial crisis, almost one-fifth of the country's annual
output, and three former executives will go on trial next year
on fraud charges.