Irish Bank Resolution Corp., formed to complete the liquidation of Anglo Irish Bank Corp., asked a U.S. bankruptcy judge to approve the sale of loans with nominal balances totaling more than $19 billion.
A lawsuit against General Motors Co. in California over ignition-switch defects linked to 13 deaths was put on hold until a bankruptcy judge in New York rules on whether some compensation claims can be brought without violating a court order in the company’s 2009 reorganization.
Richard Ravitch, who helped New York weather its fiscal crisis in the 1970s, was named by the judge overseeing Detroit’s record municipal bankruptcy as a court adviser to help evaluate that city’s debt-cutting plan.
General Motors Co., which is fighting at least 37 lawsuits over faulty ignition switches, asked a bankruptcy judge to reaffirm a 2009 order freeing the automaker from most of its predecessor’s liabilities.
Detroit is close to agreements with more creditors on a plan to reduce its $18 billion debt load, lawyers for the city told a judge who withheld a final ruling on whether to allow a vote on the proposal.