Monday, 23 January 2017
Last updated 2 days ago
Oct 15 2013 | 9:50am ET
Elliott Management has given up its effort to keep the former Anglo Irish Bank out of bankruptcy.
The hedge fund last week withdrew its objection after a federal bankruptcy court in Delaware denied its request for Irish government records related to the February decision to liquidate the bank, now called the Irish Banking Resolution Corp.
U.S. Bankruptcy Judge Christopher Sontchi said he was "not inclined, at least for now, to perform a forensic analysis of Ireland's legislative and executive departments."
Elliott has argued that Anglo Irish was solvent when the Irish parliament voted to put it into liquidation.
Sontchi will still hear arguments on blocking IBRC's bankruptcy filing due to a challenge from another Anglo Irish investor.