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Overturned
David Drumm's bankruptcy appeal has been rejected
Drumm now remains in custody while he fights extradition to Ireland
THE FORMER CEO of Anglo Irish Bank David Drumm has failed in his appeal to have the decision denying him bankruptcy overturned in the United States.
Drumm, who has been living in the US since 2009, is personally liable for €10.5 million in debts.
RTÉ reports that he blamed the advice he received from lawyers and accountants when appealing the rejection of his bankruptcy application.
However, last night, US District Court Judge Leo Sorokin said Drumm had employed a “tug of war” strategy in relation to disclosing his finances and could not now blame his advisors for that strategy.
Judge Sorokin added that “no mistake” was made by blocking the former Anglo chief’s bankruptcy.
Drumm now remains in custody while he fights extradition to Ireland to face 33 charges relating to transactions while he was CEO of Anglo Irish Bank.
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