Anglo Irish Bank Corporation Limited and INBS – Legal Office Notice No. 7 of 2011
Anglo Irish Bank Corporation Limited and Irish Nationwide Building Society; new entity Irish Bank Resolution Corporation Limited
On 1st July 2011, the operative date, a Transfer Order was made in the High Court, pursuant to section 34 of the Credit Institutions (Stabilisation) Act, 2010, whereby the assets and liabilities, including mortgage loans, of Irish Nationwide Building Society (INBS) were transferred to Anglo Irish Bank Corporation Limited (Anglo). Such a transfer has effect as a deed registered in the Registry of Deeds or Land Registry on the date on which it took effect, section 40(1)(a) refers.
On the 14th October 2011 (change date) Anglo changed its name to Irish Bank Resolution Corporation Limited (IBRC), (CRO ref. 22045).
Charges in favour of INBS, dated prior to the operative date, may be registered in the name of IBRC. From the operative date, until the change date, Anglo will seal vacates of charges registered in the name of INBS, and also, where applicable, exercise the mortgagee’s power of sale pursuant to the Conveyancing Acts and the Registration of Title Act 1964. Thereafter, from the change date, IBRC will seal vacates and exercise all powers of both Anglo and INBS. No amendments on the register are required.
19th October 2011