The National Asset Management Agency (Nama) was granted permission by a US court to take control of 67 acres of land at Celbridge, Co Kildare, owned by bankrupt property developer Seán Dunne, the Irish Times reported. The State loans agency sought relief from the automatic stay granting Mr Dunne court protection from his creditors to take control of the land, which is now worth just €812,000 but is securing Nama debt of €65 million.

Two so-called vulture funds in the United States, which hold $75 million of subordinated bonds issued by the former Anglo Irish Bank, are threatening to scupper an attempt by the bank’s liquidators to protect $1 billion of its US assets from seizure by its creditors. The Irish Times understands that the funds, Burlington Alpha and Burlington Beta, are linked to Elliott Management, the giant hedge fund controlled by US billionaire Paul Singer. Mr Singer is one of the US Republican Party’s biggest contributors.

Ernst & Young are aiming to dig the Tucker’s Point Club out from underneath a mountain of debt, the Bermuda Sun reported. At 2pm on Thursday Roy Bailey and Keiran Hutchison of Ernst & Young Ltd., Bermuda were appointed joint receivers of Bermuda Properties Ltd and certain subsidiaries which own the Tucker’s Point resort. The receivership only affects the companies that own the property and do not affect Rosewood Hotels & Resorts, who will continue to operate the resort and golf club on a business as usual basis.

Leaders of the world’s largest economies ratcheted up the pressure on tax avoidance by backing “an ambitious and comprehensive” plan to crack down on multinationals that shift profits into low-tax countries, the Irish Times reported. The G20 countries also stepped up the assault on evasion, with plans to exchange tax information automatically between themselves by the end of 2015 and calling “on all other jurisdictions to join us by the earliest possible date”.

The process of selling the bankrupt railway whose runaway train killed 47 people in Quebec is under way and the company’s trustee hopes to complete a deal by year’s end, The Globe and Mail reported. Montreal, Maine & Atlantic Railway has made no secret that the railway’s sale will be necessary to repay creditors and victims following the July 6 disaster in Lac-Mégantic, Quebec. Railway trustee Robert Keach said Thursday that he’s already been approached by “several” potential buyers.

The adoption of cross-border protocols by judges in Canada and the U.S. on Wednesday will allow the Montreal, Maine and Atlantic Railway bankruptcy to move forward so that the victims of the Lac-Megantic train disaster may receive compensation as quickly as possible, the trustee assigned to oversee the case said, Bangor Daily News reported. “The U.S. case and the Canadian case are being administered primarily for the victims,” Robert Keach, a Portland lawyer who was appointed Aug. 22 to serve as trustee during the bankruptcy proceeding, said after a hearing in Bangor.

Aston Metals Ltd., a mining exploration company owned by Nathan Tinkler, was placed in receivership as the latest piece of the former billionaire’s empire in Australia to be offered for sale to repay creditors, Bloomberg reported. John Park and Quentin Olde of FTI Consulting Inc. were appointed as receivers in Australia, according to a statement from the West Palm Beach, Florida-based company. Madison Pacific Trust Ltd., representing funds that hold Aston notes, named Park and Olde, according to an e-mail from FTI.

Banks face being hit with a new set of international capital rules aimed at forcing bondholders rather than taxpayers to bail out failing institutions, the Financial Times reported. Global regulators are seeking support from world leaders to draw up proposals to force banks to hold a minimum amount of debt that can be “bailed in” if a bank collapses.

The liquidation vehicle for Ireland's failed Anglo Irish Bank has filed for bankruptcy protection in the United States, it said on Tuesday, Reuters reported. The Irish Bank Resolution Corporation's (IBRC) liquidators said they filed an application under Chapter 15 of the U.S. bankruptcy code in the district of Delaware on Monday. Chapter 15 grants a foreign company protection from creditors looking to seize its assets in the country. "These assets form part of the liquidation process currently underway," the liquidators said in a statement.

A U.S. court has approved a multimillion-dollar settlement in a securities fraud class-action lawsuit against a bankrupt energy exploration company for which embattled Sen. Pamela Wallin was a director, The Globe and Mail reported. Between June 2007 and December 2011, Wallin was a paid member of the board of Oilsands Quest Inc., a Calgary-based exploration company. As a director, the Saskatchewan senator was named in the lawsuit along with fellow board members, TD Securities and Calgary consulting firm McDaniel and Associates.