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.

Read: Construction workers were invited into Drumm family home for meals, judge told>

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David Drumm's bankruptcy appeal has been rejected

Read: Construction workers were invited into Drumm family home for meals, judge told>

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.