This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-europe-30706483
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
David Drumm: Ex-Anglo Irish Bank CEO fails in bankruptcy bid | David Drumm: Ex-Anglo Irish Bank CEO fails in bankruptcy bid |
(about 20 hours later) | |
Former Anglo Irish Bank chief executive David Drumm can be held liable for debts of 10.5m euros (£8.34m) after he failed in his bid to be declared bankrupt, a court in the US has ruled. | |
A judge found Mr Drumm was "not remotely credible" and his conduct "both knowing and fraudulent". | A judge found Mr Drumm was "not remotely credible" and his conduct "both knowing and fraudulent". |
The judge's comments were made in a 122-page judgment issued on Tuesday. | The judge's comments were made in a 122-page judgment issued on Tuesday. |
Mr Drumm had sought the court's protection after he moved to the US following the bank's collapse. | Mr Drumm had sought the court's protection after he moved to the US following the bank's collapse. |
The judgment, which followed seven months of deliberations at a court in Boston, also accused the 48-year-old of telling "outright lies". | The judgment, which followed seven months of deliberations at a court in Boston, also accused the 48-year-old of telling "outright lies". |
'Witch-hunt' | 'Witch-hunt' |
"Such conduct disqualifies a debtor from the privilege of a discharge in our system of bankruptcy," said the judge in the ruling. | "Such conduct disqualifies a debtor from the privilege of a discharge in our system of bankruptcy," said the judge in the ruling. |
The court heard that both a court-appointed trustee and the Irish Bank Resolution Corporation (IBRC) had established reason to deny Mr Drumm bankruptcy "many times over". | The court heard that both a court-appointed trustee and the Irish Bank Resolution Corporation (IBRC) had established reason to deny Mr Drumm bankruptcy "many times over". |
The judge said there were 30 objections on which the bank and trustee had established cause to deny Mr Drumm a discharge from his debts. | The judge said there were 30 objections on which the bank and trustee had established cause to deny Mr Drumm a discharge from his debts. |
In response, Mr Drumm's lawyer told the court that he had made an honest mistake and had been subjected to a "witch-hunt". | In response, Mr Drumm's lawyer told the court that he had made an honest mistake and had been subjected to a "witch-hunt". |
'Privilege' | 'Privilege' |
However, the judge said the former banker's conduct disqualified him from the "privilege" of discharge in the US system of bankruptcy. | However, the judge said the former banker's conduct disqualified him from the "privilege" of discharge in the US system of bankruptcy. |
Mr Drumm moved to Boston in June 2009, six months after his resignation from the bank. | Mr Drumm moved to Boston in June 2009, six months after his resignation from the bank. |
He filed for bankruptcy in October 2010, after he failed to reach a settlement with the bank over outstanding debts. | He filed for bankruptcy in October 2010, after he failed to reach a settlement with the bank over outstanding debts. |
Previous version
1
Next version