Anglo Irish Bank’s former chief executive David Drumm has until Friday next to file a statement of his assets and liabilities in his bankruptcy proceedings in the US, the Commercial Court in Dublin heard yesterday, The Irish Times reported. Mr Justice Peter Kelly adjourned Anglo’s actions against Mr Drumm and his wife as a result of Mr Drumm’s unexpected decision earlier this month to file for voluntary bankruptcy in the US.

The muddy big 1.33-hectare hole that is the failed $250 million Soho Square development in Auckland's Ponsonby could soon be alive with construction crews, with first mortgagee United States hedge fund Fortress cleared by the High Court to buy the site, Stuff.co.nz reported on a Dominion Post story.

The London-based administrator of Awal Bank BSC said the Bahraini institution filed for Chapter 11 protection in the U.S. in an attempt to wrest back payments made to its creditors in the U.S. before regulators seized the bank, Dow Jones Daily Bankruptcy Review reported. Awal, which filed for Chapter 11 protection with the U.S. Bankruptcy Court in Manhattan on Friday, was placed into administration in its home country in July 2009. The bank gained recognition of its foreign proceeding in U.S. courts, known as Chapter 15 bankruptcy, last year.

Cable company Shaw Communications can proceed with its C$2 billion ($1.94 billion) purchase of the television assets of distressed media company Canwest Global, Canada's telecom and broadcaster regulator said on Friday, Reuters reported. "We are satisfied that this transaction will generate substantial benefits for the Canadian broadcasting system," Canadian Radio-television and Telecommunications Commission (CRTC) Chairman Konrad von Finckenstein said in a statement.

Bernard Callebaut's bid to keep his company has failed. The high-end chocolate business that bears his name went into receivership in August, with ATB Financial claiming Callebaut owed close to $4 million, CBC News reported. Receiver Deloitte and Touche recommended last week that the company's assets be sold to a numbered company backed by former Callebaut vice-president of operations Brian Beck and a dealer with three stores in Edmonton. Callebaut and his lawyers contested that bid Wednesday, but on Thursday a judge rejected Callebaut's attempt to buy the business back.

Bahrain-based Awal Bank BSC, controlled by Saudi Arabia's Saad Group and Saudi businessman Maan Al-Sanea, has filed for bankruptcy protection in the United States, Reuters reported. According to its Chapter 11 petition filed with the U.S. bankruptcy court in Manhattan, Awal has between $50 million and $100 million of assets, and more than $1 billion of liabilities. Saad Investments Co owns a 48 percent stake in the bank and Al-Sanea owns 47 percent, the petition shows.

Nortel Networks Corp, the fallen Canadian telecom giant, said on Tuesday it is selling its sprawling Ottawa campus to the Canadian government for C$208 million ($202 million), Reuters reported. Nortel, once North America's biggest telecommunications equipment maker, said the sale is expected to close at the end of the year. The 370 acres of land and its 11 interconnected buildings had been a proud symbol of the company's dominance in its field and of Canada's technical prowess.

Anglo Irish Bank has secured a temporary court injunction restraining the wife of its former chief executive David Drumm from transferring the couple’s former home in Co Dublin from her sole ownership back to the joint ownership of her husband and herself, The Irish Times reported.

Policy makers at the European Central Bank face the same high unemployment and slow growth that dogs their friends across the Atlantic at the Federal Reserve. But don't expect the ECB to follow the Fed in taking extraordinary measures to try to get things moving again, The Wall Street Journal reported. The Fed thinks it can and should use the tools at its disposal, in this case buying U.S. Treasury bonds to bring down long-term interest rates and goose growth, because doing so will bring down the jobless rate. The Europeans won't have any of it.

Mexico's largest nonbank mortgage lender, Hipotecaria Su Casita, said Thursday that it missed principal and interest payments on local notes for a total of MXN730.7 million ($58.7 million), but added that negotiations continue with creditors on a restructuring, Dow Jones Daily Bankruptcy Review reported. Despite the defaults, "negotiations with holders of these notes and with the rest of Su Casita's creditors continue aimed at reaching an agreement for the financial restructuring of the company," Su Casita said.