Friday 15 December 2017

Details had to be drawn out, trustee claims

Information about his finances had to be "drawn out" of David Drumm after he filed for bankruptcy, according to the official charged with managing his case.

Attorney Kathleen Dwyer was appointed as bankruptcy trustee in late 2010 when Mr Drumm filed for a Chapter 7 insolvency in the US.

She became aware that he had transferred cash to Lorraine Drumm from the couple's joint accounts and his own sole accounts in the period before the bankruptcy "principally through review of bank statements as they came in".

As bankruptcy trustee, her job was to collect and liquidate his assets to pay off creditors, she told a US court yesterday.

Given his education and work background, Ms Dwyer regarded Mr Drumm as someone with a "very sophisticated understanding of financial matters", she said. Information "had to be drawn out from him" through a "series of requests," she told the court.

Irish Independent

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