Saturday 27 December 2014

David Drumm's wife Lorraine arrives in court for final day

Donal O'Donovan in Boston

Published 28/05/2014 | 14:37

Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final  day of Drumm's US bankruptcy court trial. 
Pic: Josh Reynolds
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Josh Reynolds for The Independant (O'Donovan, freelance ) ** this is cropped to exclude the security arrangement at courtouse. -- none of the photogs got them before they were in the building today. -jr
Lorraine Drumm walks into a US Courthouse for the trial of her husband, former Anglo Irish Bank chief executive David Drumm for what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Heather Zelevinsky, pushing a baby buggy, arrives at U.S. Bancruptcy court for the trial of former Anglo Irish Bank chief executive David Drumm walk into the courthouse what may be the final day of Drumm's US bankruptcy court trial. Josh Reynolds for The Independant (O'Donovan, freelance )
Lawyers load a cart full of documents for the trial of former Anglo Irish Bank chief executive David Drumm walk into the courthouse what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lawyers load a cart full of documents for the trial of former Anglo Irish Bank chief executive David Drumm walk into the courthouse what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Lawyers for the prosecution in the trial of former Anglo Irish Bank chief executive David Drumm walk into the courthouse what may be the final day of Drumm's US bankruptcy court trial. Pic: Josh Reynolds
Francis Morrissey, lawyers for former Anglo Irish Bank chief executive David Drumm walks to what may be the final day of Drumm's US bankruptcy court trial. Josh Reynolds
David Drumm and his wife Lorraine outside the US Bankruptcy Courthouse in Boston
David Drumm

FORMER Anglo Irish Bank chief David Drumm and his wife Lorraine have arrived at court in Boston for what is expected to be the final day of evidence in a case to decide whether the former bank boss can emerge from bankruptcy.

Property deals between the couple and transfers of more than $1m in cash from Mr Drumm and from the couple's joint bank accounts to Mrs Drumm in the two years before he sought bankruptcy are at the heart of the case.

Bankruptcy trustee Kathleen Dwyer and IBRC, the former Anglo Irish Bank, are trying  to block the former bank chief's discharge from a Chapter 7 bankruptcy in the US. They claim that a failure to document transfers to Lorraine Drumm in his original 2010 bankruptcy filing was an attempt to defraud his creditors, including the bank.

That makes Mr Drumm ineligible for the fresh start offered under the US system, the claim.

In court, where he was cross examined for 10 hours last week David Drumm admitted to errors in his paper work but said it was filled out based on the advice of his then lawyers.

The couple shared an umbrella as they arrived on foot at the court house in Boston's financial district. David Drumm has been present in court for all of the previous four days of evidence and wore a blue business suit, shirt and tie for the final day of evidence. His wife Lorraine Drumm who has not been in court previously during the hearings is due to give evidence later today. She arrived in a dark dress, cream coloured jacked and gold belt.

US bankruptcy judge Frank Bailey set aside five days to hear the case, which is due to end today. But he is not expected to hand down a verdict for several weeks.

Irish Independent

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