Friday 28 October 2016

Drumm: IBRC's attack is 'personal'

Published 30/05/2015 | 02:30

David Drumm
David Drumm

Disgraced David Drumm has accused the former Anglo Irish Bank of mounting a personal attack on him.

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Mr Drumm, the bank's former chief executive, said the Irish Bank Resolution Corporation (IBRC) had attempted to "vilify" him.

In a legal filing in the US, where Mr Drumm is continuing his battle for bankruptcy protection, he accused his former employers of mischaracterising facts in his case.

The Dubliner is seeking to overturn a decision by a Boston judge in January not to award him a fresh financial start.

He has debts of over €10m, most of which is owed to the IBRC.

In a hard hitting ruling Judge Frank Bailey found Mr Drumm was "not remotely credible" and had told "outright lies" about the transfer of assets worth €1m to his wife Lorraine.

Mr Drumm subsequently launched an appeal, to which the IBRC objected earlier this month.

Responding to IBRC's objection last night, Mr Drumm accused it of failing to address the merits of his arguments and instead attacking him personally.

He also accused the bankruptcy court of being "influenced unduly by its intense dislike" of him.

Mr Drumm's appeal is mainly based on his claim that professional advice he received was the reason he did not disclose the transfers made to his wife.

He claims he was simply following the advice of his attorney at the time.

In the legal papers filed on his behalf, Mr Drumm's new lawyers said that regardless IBRC's attempt to "vilify" him, he was entitled to have his appeal "determined on the merits".

"Justice is meant to be blind, there to serve the unlikeable as well as the likeable, without bias between the two," the filing said.

It said that whatever anyone thinks of Mr Drumm, his position was that he had relied on the guidance of his advisors.

A court will now consider whether to allow Mr Drumm's appeal go ahead.

Irish Independent

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