Tuesday 22 October 2019

Drumm's bankruptcy trial likely to begin next year

Orlaith farrell

THE bankruptcy trial of disgraced banker David Drumm is likely to take place in the US early next year.

The former Anglo Irish Bank chief executive was not in court in Boston yesterday to hear lawyers for the IBRC liquidators ask for more time to prepare their case against him.

Mr Drumm began his legal battle to be discharged from debt in October of 2010. Mr Drumm, who resigned as Anglo boss in 2008 and relocated to the US in 2009, listed debts of over €10m. Irish Bank Resolution Corporation (formerly Anglo) and a court appointed trustee challenged his application for a fresh start on the grounds that Mr Drumm had failed to disclose the transfer of assets to his wife.

The trial had been due to take place in June of this year, but was cancelled after the government liquidation of IBRC in February.

Judge Frank Bailey asked both sides to reconvene in July to set a trial date.

Irish Independent

Editor's Choice

Also in Irish News