Irish Bank Resolution looks to sell assets related to hotel and pub

By Caroline Salls

Pittsburgh, April 21 – Irish Bank Resolution Corp. Ltd.’s foreign representatives requested court approval of the bid procedures for the proposed sale of the loan or operational assets of the company’s Mandarin Oriental Boston and the loan assets of the Great Irish Pub, according to Monday filings with the U.S. Bankruptcy Court for the District of Delaware.

Bids on the Mandarin assets are due by 5 p.m. ET on Sept. 3. Bids for the Great Irish Pub loan assets are due by 5 p.m. ET on July 17.

If necessary, an auction will be held on Sept. 11 for the Mandarin assets and on July 27 for the Great Irish Pub assets.

Overbids for the Mandarin loan assets must be in minimum increments of $1.5 million. Overbids for the Great Irish Pub assets must be in minimum increments of $500,000.

A hearing on approval of the bid procedures is scheduled for May 11.

Irish Bank Resolution, a Dublin-based successor to Anglo Irish Bank, filed for bankruptcy on Sept. 17, 2013. The Chapter 15 case number is 13-12159.

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