The Irish Emigrant – It has emerged that a New York and Miami-based hedge fund which invests in the U.S. mortgage market is demanding that Anglo Irish Bank be stopped from transferring $10.7bn of assets out of the U.S.
Fir Tree Capital bought $200m of Anglo subordinated debt in September of 2005, and is now attempting to block the bank’s attempts to impose a so-called “haircut” on certain bond and noteholders who will be made to bear some of the costs of Anglo’s implosion.
