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Former Anglo CEO appeals ruling that he cannot walk away from his debts

David Drumm is appealing a US court ruling that he cannot be discharged from his debts. The forme...
Newstalk
Newstalk

08.59 17 Jan 2015


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Former Anglo CEO appeals rulin...

Former Anglo CEO appeals ruling that he cannot walk away from his debts

Newstalk
Newstalk

08.59 17 Jan 2015


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David Drumm is appealing a US court ruling that he cannot be discharged from his debts.

The former CEO of Anglo Irish Bank has filed legal papers seeking to overturn a decision by a US bankruptcy court.

Judge Frank Bailey made the ruling last week.

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The judge handed down a 122-page ruling against him, after deliberating for seven months following a trial last summer.

A discharge would have allowed Mr Drumm to walk away from debts of €10.5m.

The Irish Times reports that Mr Drumm has chosen to have the appeal heard by the US District Court, rather than by a court specialising in bankruptcy.

Mr Drumm moved to the US in 2009, six months after he resigned from Anglo.

He filed for bankruptcy in October 2010, after failing to reach a settlement on his debts.


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