Bank deposits to be auctioned as Anglo expects €17.6bn loss

The High Court today directed that the deposits and assets of Anglo Irish Bank and Irish Nationwide Building Society (INBS) can be auctioned immediately, the first step in the winding down of the two institutions.

Bank deposits to be auctioned as Anglo expects €17.6bn loss
Tue, 08 Feb, 2011 - 13:24

The High Court today directed that the deposits and assets of Anglo Irish Bank and Irish Nationwide Building Society (INBS) can be auctioned immediately, the first step in the winding down of the two institutions.

The move follows an application by Finance Minister Brian Lenihan to the court under the terms of the Credit Institutions (Stabilisation) Act 2010.

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