Anglo Irish Creditors Said to Face More Losses After Liquidation
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Anglo Irish Bank Corp., the lender that pushed the country to the brink of bankruptcy, will have 3 billion euros ($4 billion) less to repay creditors after the government sped up its liquidation, two people with knowledge of the matter said.
Finance Minister Michael Noonan’s February decision to wind up Anglo Irish in 2013, seven years earlier than planned, will force the bank to forgo funds the government had pledged in 2010 as part of the lender’s bailout, said the people, who asked not to be identified because the talks are private.