The US official administering the estate of the former Anglo Irish Bank chief executive David Drumm has formally asked the High Court in Ireland for its assistance in the bankruptcy proceedings in the US.
Mr Drumm filed for bankruptcy in Massachusetts last month and is now a bankrupt under US law.
The US trustee in bankruptcy, Kathleen P Dwyer, has now asked the High Court here for an 'order in aid', allowing the US bankruptcy to be recognised and allowing Mr Drumm's assets in this country to be sold and the proceeds distributed to creditors.
A creditors' meeting is due to be held in the US tomorrow. US bankruptcy proceedings are not automatically recognised in this country, but the trustee's lawyers argue that the law in the US is equivalent to the bankruptcy legislation in Ireland.
Lawyers for Anglo Irish Bank have expressed concern about the status of Mr Drumm's former family home in Malahide. The house was the subject of legal proceedings between the bank and Mr Drumm and his wife Lorraine.
The bank wanted a transfer of ownership from the joint names of Mr Drumm and his wife to Mrs Drumm's sole name, set aside. Mrs Drumm has agreed to have that transfer set aside but the property is still the subject of an injunction.
The trustee's lawyer, Bernard Dunleavy, said that if she received the order in aid from the Irish courts, there would be a seamless transition of Mr Drumm's interest in the property to the trustee.
Ms Justice Elizabeth Dunne said she was conscious of the urgency of the matter and would give her decision as soon as she could.