Irish Bank Resolution seeks provisional relief amid recognition delay

By Caroline Salls

Pittsburgh, Sept. 17 - Irish Bank Resolution Corp.'s foreign representatives asked the U.S. Bankruptcy Court for the District of Delaware to grant provisional relief in connection with its motion for foreign recognition of its liquidating proceeding in Ireland, according to a Tuesday court filing.

At the request of various creditor constituencies, the foreign representatives said they are developing a proposed litigation schedule related to the court's consideration of recognition of Irish Bank's Chapter 15 bankruptcy petition.

As a result, the representatives said they are asking the court to hold a status conference on Sept. 20 in place of the hearing originally scheduled for recognition of the petition.

Because of the resulting delay in consideration of recognition, the foreign representatives said they are seeking provisional relief "in order to avoid imminent harm to the Chapter 15 estate."

"Absent entry of the provisional order, the debtor will be prejudiced by the possibility of conflicting instructions and orders resulting from the decentralized administration and oversight of the debtor's wind-down," the motion said.

Irish Bank Resolution is a Dublin-based successor to Anglo Irish Bank. The Chapter 15 case number is 13-12159.

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