The U.S. company whose runaway oil tanker train exploded and killed 47 people in a small Quebec town in July can operate trains through Oct. 18, Canadian regulators said on Thursday in a ruling that prolongs a temporary extension by about two weeks, Reuters reported. But the Canadian Transportation Agency said it had not yet decided whether to grant a request from Montreal, Maine and Atlantic Railway and its Canadian subsidiary for permission to continue operations until Jan. 15, 2014. The company filed for bankruptcy protection in August, just weeks after the Lac-Megantic disaster.

The slew of objections filed this week in the US bankruptcy proceedings of Irish Bank Resolutions Corporation (IBRC) has delayed by several weeks its bid to protect up to $1 billion of its assets from potential seizure by creditors, the Irish Times reported. Kieran Wallace and Eamonn Richardson of KPMG, the special liquidators of IBRC, had originally sought an emergency hearing at a Delaware court yesterday for Chapter 15 protection. This would protect its US assets from a litany of lawsuits brought against it by US creditors, until the bank’s Irish wind-down was completed.

Belgian financial group Dexia has entered into exclusive talks with New York Life Investments to sell its asset management unit, it said late on Thursday. The group, which has to sell Dexia Asset Management as part of a deal with European regulators in exchange for state aid it received in recent years, did not say how much New York Life Investments planned to offer. Dexia had initially agreed to sell the asset management arm to Hong Kong-based GCS Capital for 380 million euros ($507 million), but that deal fell through in July.

Arcapita, a private equity and investment company based in Bahrain, has emerged from bankruptcy protection in the U.S. this week, concluding a reorganization that analysts say may represent the first true post-financial-crisis debt restructuring by an Arab Gulf company, The Wall Street Journal Middle East Real Time blog reported. The bankruptcy plan approved by a U.S. court envisions Arcapita selling down its portfolio of assets over five years to repay creditors, and then effectively going out of business.

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.

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.

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.