Thursday 27 October 2016

David Drumm files fresh appeal on failed bankruptcy bid

Shane Phelan Public Affairs Editor

Published 03/12/2015 | 08:18

David Drumm
David Drumm

FORMER Anglo Irish Bank boss David Drumm has launched a second appeal against a decision by a US judge to deny him bankrupcy.

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The move comes a week after the Massachusetts District Court rejected his bid to overturn a decision of the US Bankruptcy Court refusing to discharge him from his debts totalling almost €11m.

As a result of those earlier rulings, he can be held liable for his debts and can be sued by creditors.

Lawyers for Mr Drumm last night filed a legal notice that he wishes to appeal to the US Circuit Court of Appeals.

The original bankruptcy ruling found Mr Drumm had lied to the court and failed to disclose around  €1m in asset transfers made to his wife.

The second appeal comes as Mr Drumm also gears up for a battle against a request to extradite him to Ireland to face 33 charges, including ones of fraud and false accounting, related to hin time at the helm of Anglo.

He is currently in the custody in a detention centre in Rhode Island having been arrested by US Marshals in October.

His extradition case is scheduled to be heard next March.

Although he applied for bail, it is thought unlikely he will be released ahead of that hearing.

Mr Drumm has lived in Massachusetts since 2009, the year after he stepped down as Anglo chief executive.

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