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US bank says Drumm should not have protection from credit card debt

Chase Bank has joined bankruptcy proceedings brought by Drumm in the US, RTÉ’s US correspondent reports.

RTÉ’S RICHARD DOWNES REPORTS that a major US bank has joined in the bankruptcy proceedings brought by former Anglo Irish Bank chief executive David Drumm in the US.

Chase Bank claims Drumm received money from them on a fraudulent basis or by false pretences.

The bank wants the judge to refuse to discharge Drumm of his debts in the bankruptcy action, saying he does not deserve bankruptcy protection because of the manner in which he incurred those debts.

The bank claims he owes them almost $15,000 in credit card debt.

Drumm filed for bankruptcy in the US last year, where he now lives with his family.

At one session of the bankruptcy hearing held earlier this month he said he had transferred €550,00o to his wife’s US bank account the month he resigned from Anglo. He also said he had spent millions on properties in Cape Cod.

Meanwhile, in Ireland last week, Drumm was reported to have reached agreement with his former employer which effectively prevents the gardaí from accessing certain files.

Richard Downes’ report appeared on this evening’s Nine News on RTÉ 1 >

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